Just a month after acquiring WhiteHat Jr, Indian edtech decacorn, BYJU’s on Thursday acquired lab-like virtual simulation platform, LabInApp for an undisclosed amount.
BYJU’s will use this investment to bolster its offerings and capabilities for the K-12 segment.
Five-year-old, LabInApp enables virtual simulation of lab equipment and experiments without requiring an expensive laboratory setup. More than 5000 schools across India leverage the startup’s solution.
The app also provides learning content in the form of 3D/2D interactive simulations which helps students grasp tough concepts better. A computer graphic engine used to build games on desktops and mobile devices is the core technology that powers these virtual lab science experiments.
With this acquisition, LabInApp’s early backer Unitus Ventures gets 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 and supporting them to scale newer heights,” said Will Poole, managing partner, Unitus Ventures.
At present, there are 550 simulations on LabInApp, with more under various stages of development.
These simulations cover concepts across Physics, Chemistry, Biology and Mathematics, and are supported across platforms of Windows, Android, and Web.
In addition to this, the content designed by LabInApp is designed as per the NCERT guidelines and supports all major curriculum from Grades 06 to 12.
“Technology has become the core to most human essentials, with ed-tech topping the chart; especially in the pandemic world. While schools have their set of challenges, students shouldn’t miss out on experiential learning […] to further scale LabInApp’s products and potential, there is no better education platform than BYJU’s, which has a large number of K-12 students actively using their services,” said Pavan Shinde, co-founder & CEO, LabInApp.
Last month, BYJU’s made its fifth acquisition, by acquiring Mumbai-based WhiteHat Jr in an all-cash deal worth $300 million. This was also BYJU’s largest acquisition till date.
The current ongoing pandemic has led to a ‘watershed moment’ for India’s education sector, as schools and educational institutions begin to go completely digital.
This has led to a favourable interest amongst late-stage investors in India’s edtech players.
Earlier this month, BYJU’s raised $500 million in a fresh round of funding led by US-based private equity (PE) investor Silver Lake, along with participation from existing investors including Tiger Global, General Atlantic, and Owl Ventures.
This year alone BYJU’s has raised more than $1 billion in equity funding, with the likes of Tiger Global and General Atlantic, DST Global, and Mary Meeker’s BOND Capital investing in the startup.
This month, edtech platform Unacademy also burst into the unicorn club with Japan’s Softbank leading a $150 million investment, which tripled the startup’s valuation to $1.45 billion in less than six months.
In July, Vedantu raised $100 million, as part of its Series D round, which has doubled its valuation to $600 million.