Mary Meeker’s fund invests in India edtech startup BYJU’s
Mary Meeker’s venture capital fund Bond Capital has backed online education startup Byju’s, marking its first investment in India.
Mary Meeker’s venture capital fund Bond Capital has backed online education startup BYJU’s, marking its first investment in India.
The startup, which simplifies math and science concepts for K-12 students through games and videos, has seen tremendous growth over the past year. That has further accelerated with coronavirus lockdowns shutting schools and prompting parents, teachers and students to seek out online resources.
BYJU’s has over 57 million registered students and more than 3.5 million paid subscribers, and has doubled revenues from 28 billion rupees ($370 million) in the last financial year.
BYJU’s is “endorsed by millions of students” and is a clear leader in education technology, Meeker, a general partner at Bond, said in a funding announcement. Existing investors include Facebook founder Mark Zuckerberg’s Chan Zuckerberg Initiative and Sequoia Capital.