Byju’s nears $150 million acquisition of edtech Rival

Founded in Bangalore in 2011, Byju’s has emerged as India’s leader in online learning. The company spent the latter half of 2020 raising capital from notable names including Mary Meeker and Yuri Milner. Two separate funding rounds led by Silver Lake and BlackRock valued the startup at $11 billion.

India’s biggest e-learning startup, Byju’s, is close to signing a deal to acquire rival Toppr Technologies Pvt. in a transaction valued at roughly $150 million, according to a person familiar with the matter.

The case of learning company Byjus which raised $200 million recently is well known (Shutterstock)

Toppr provides online learning materials to students in grades 5 through 12 and its backers include SAIF Partners and Helion Ventures. It is the latest target for Byju’s, which has been expanding aggressively in recent months to capture the surge in demand for online education triggered by the pandemic. In January, it agreed a $1 billion deal to acquire brick-and-mortar test prep leader Aakash Educational Services Ltd.

Byju’s and Toppr representatives did not immediately respond to emails seeking comment.

Founded in Bangalore in 2011, Byju’s has emerged as India’s leader in online learning. The company spent the latter half of 2020 raising capital from notable names including Mary Meeker and Yuri Milner. Two separate funding rounds in September, led by Silver Lake and BlackRock, respectively, valued the startup at $11 billion.

The deal for Toppr’s takeover is close but has not yet been finalized, said the person, who asked not to be named due to its private nature.