Naspers says it has led a combination primary and secondary $540 million investment in edtech company, Byju’s.
A significant portion is also being contributed by the Canadian Pension Plan Investment Board (CPPIB), Naspers said.
New funds will fuel international expansion and further personalise learning, it said.
“The investment will drive the Byju’s team to further innovate, explore and set new benchmarks for tech-enabled learning products.
The company has plans for international market expansion and will make bold investments in technology that will help to further personalise learning for students.”
Launched in 2015, Byju’s offers personalised learning programmes for school students in 4th-12th grades in India.
More than 30 million students have used the Byju’s Learning App and it has amassed over 2 million cumulative annual paid subscriptions, with an average engagement of 64 minutes per student daily.
Naspers said it has built a significant edtech portfolio. The portfolio includes Udemy, Brainly, Codecademy, an online interactive platform to learn to code and SoloLearn, a mobile-first community learning platform where students can learn, create, and share programming content.