The education technology’s leader Byju’s has attained LabInApp, a startup that offers a lab-like simulation for students from science background on their devices, easily accessible through the applications.
The acquisition has been announced but the amount remains undisclosed. It will give Unitus Ventures, a backer of LabInApp, a full exit.
LabInApp is based in Hubli, which uses technologies to make mobile games and desktops creating virtual simulations and experiments in the field of sciences. This helps students to gain practical knowledge even in the absence of physical infrastructure.
“Every school has its set of challenges, the students shouldn’t miss out on the opportunity and experiential learning. Keeping all these things in mind, we have created this virtual learning and teaching environment with a virtual science laboratory where the teachers can teach practical concepts to the students.” Pavan Shinde, the Co-Founder, and CEO of LabInApp said in an interview with the media houses.
The startup mentioned that it constitutes over 5,000 schools for its product with its simulations covering concepts, across Mathematics, Physics, Biology, and Chemistry, for students in standard 6 to 12.
“Accession on LabInApp by Byju’s during the course time of the global pandemic exemplifies the growth story of innovative educational-technological solutions. Unitus stays steadfast in mentoring early-stage start-ups applying advanced technology to meet the needs of India’s lower-income public.” Said Will Poole, the Managing Partner at Unitus Ventures.
This acquisition comes soon after Byju’s raised $500 million in funding led by US private equity giant Silver Lake at a $10.8 billion valuation. The company is looking forward to utilizing the capital, to combat the expansion of the segments, which is there, and that grows its presence outside India.
In August, Byju’s obtained smaller competitors WhiteHat Jr for $300 million, a deal that aimed at opening the door for the Indian companies to enter into the US market.