India's edtech unicorn BYJU'S acquires LabInApp
ⓘ Featured image: A file-photo of Byju Raveendran, Founder & CEO of BYJU’s
Edtech unicorn BYJU'S on Thursday (September 17 2020) acquired LabinApp, an edtech startup backed by Unitus Ventures. The amount of acquisition has not been disclosed yet. As a part of the acquisition, Unitus will take exit from the company.
Founded in 2015 by Pavan Shinde, Girish Shirigannavar, Pramod Ramdurg, and Vinayak Hulabutti, the Hubli, Karnataka-based LabInApp provides a license-based programme that includes experiments in general science, physics, chemistry and biology for class 9 to class 12 using 3D simulation.
According to Crunchbase, LabInApp until now has raised $100,000 investment across different rounds from Unitus Ventures, and various angel investors including Iftekhar Nihal, Madan Padaki, and Subhash Reddy.
Commenting on the acquisition of LabinApp, Pavan Shinde, Co-founder & CEO of LabInApp, in a statement said,
“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. Keeping this in mind, we have created a virtual learning & teaching environment representing science laboratories where teachers can teach practical concepts to students.”
BYJU’s present valuation of $10.8 billion makes it the highest valued edtech startup in the world. The company earlier this month raised $500 million from Silver Lake, and $122 million from DST Global last month.
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