An Indian startup has caught the eye of the Facebook founder, Mark Zuckerberg. Apparently, the multi-billionaire was so impressed with the educational technology company, called Byju’s Classes that he decided to offer his full support. However, the entire amount of $50 Million has not been invested by CZI. The CZI-led investment has been made along with Lightspeed Ventures, Sequoia, Sofina and Times Internet.
As per Forbes, the new investment to the Byju’s Classes was made by Chan-Zuckerberg Initiative (CZI), headed by Zuckerberg and wife Dr. Priscilla Chan. The firm decided to invest in the education startup [first Asian investment for CZI] after seeing its potential. So far, CZI has given out around $1.6 billion to charities, researchers, start-ups, and other worthwhile causes. The popular Indian startup has attracted multiple investors since its launch.
Byju’s Classes is an app that helps students to learn in an easy way on the go. Users can learn about different subjects, including science and mathematics, via interactive tools and video lessons. The app uses an actual teacher who explains the lessons with some impressive animation. Zuckerberg himself posted on Facebook that around 80 percent of parents who have children who use BYJU say that they saw a dramatic improvement in their learning.
Byju’s Classes is the largest ed-tech company in India. Based at Koramangala in Bangalore, the tech firm was founded by Byju Raveendran [CEO]. Byju’s Classes started out as an offline test prep provider. The company focused on helping CAT, GMAT, GRE, JEE & Med, and Civil Service Exams aspirants. The intention behind the company is to hold coaching classes that are fun for students.
Byju had created a K-12 learning app which has been downloaded more than 5.5 million times. The app has been gathering steam since its launch in 2011. Now, it has reached over 250,000 subscribers, adding 30,000 users each month. Check out the Intro video below.