Byju’s, a leading education technology company, has received an undisclosed investment from International Finance Corporation (IFC), an arm of the World Bank. Byju’s said this will enable it to further its plan to make education accessible for students across the nation as well as in international markets.
It plans to expand into global markets, especially in the US and the UK, introduce new subjects and roll out products for Classes IV and V.
This latest investment comes close after Bjyu’s raised $50 million from the Chan Zuckerberg Initiative, a personal fund set up by Facebook founder Mark Zuckerberg, his wife Priscilla Chan and from existing investors Sequoia Capital, Belgian investment firm Sofina, Lightspeed Venture Partners and Times Internet.
Byju’s has a 500-member R&D team which is focused on three specialised verticals: Content creation team, media production house and a technology team.