Amritsar, NFAPost: Edtech Unicorn Byju’s has acquired Hubli-based startup LabInApp for an undisclosed amount. This acquisition will give Unitus Ventures, backer of LabInApp, a full exit.
“Acquisition of LabInApp by Byju’s during the course of a global pandemic exemplifies the growth story of innovative ed-tech solutions. Unitus remains steadfast in mentoring early stage start-ups applying advanced technology to meet the needs of India’s lower-income populations,” Unitus Ventures Managing Partner Will Poole said.
LabInApp uses technology to create virtual simulations of science experiments on a mobile app, offering students a facility to gain practical knowledge in the absence of physical infrastructure.
“While schools have their set of challenges, students shouldn’t miss out on experiential learning. Keeping this in mind, we have created a virtual learning and teaching environment representing science laboratories where teachers can teach practical concepts to students,” LabInApp Co-Founder and Chief Executive Officer Pavan Shinde said.
The startup with its simulations covers concepts across Physics, Chemistry, Biology and Mathematics for students in grades 6-12, and has over 5,000 schools on board for its product, it said.
This acquisition by Byju’s comes soon after the Unicorn raised $500 million in a funding led by US private equity firm Silver Lake. Byju’s stands at a valuation of $10.8 billion and the company is looking to utilise the capital to aggressively expand the segments it is present in and grow its presence outside India.
Earlier in August, Byju’s had acquired smaller rival WhiteHat Jr for $300 million, a deal aimed at opening the door for the Indian edtech firm’s entry into the US market.
