One of India’s leading e-learning startups, BYJU’S is very close to buy its rival Toppr technologies by signing a deal that is roughly valued at $150 million. Toppr technologies is known for providing online learning materials to students studying in grades from 5 to 12. Toppr is reportedly backed by Helion Ventures and SAIF Partners.
Toppr, which has aggressively expanded in the recent few months has been one of the key targets for BYJU’s. For around $1 billion deal, BYJU’S was also almost on its way to acquire AKASH Educational Services, in January.
Although the representatives of both BYJU’s and Toppr have not responded to the mails yet which seek their comment on the issue, these developments have been reported by the sources.
As students have resorted to many online learning Platforms in the past few months due to the pandemic and lack of offline resources and lockdown being its subsequent result has taken online learning platforms at unprecedented levels. In the previous Covid prone year, online education has become one of the hottest sectors growing exponentially.
In the current funding round in September, led by Silver Lake, Bengaluru-based Byju’s raised $500 million.
BYJU’s spent the latter half of the year 2020 in raising capital from notable names like Yuri Milner and Mary Meeker.