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Epic will become the third major business in the US for Byju’s, which already offers online tutoring via Byju’s Future School, and bought reality games creator Osmo two years ago.
An entity that is part of UBS Asset Management is making the investment. Talks are on to invest additional money, which would take its total investment in Byju’s to about $300 million.
The infusion that values the online-lessons platform Byju's at about $15 billion is among the largest recent capital increases in India.
Aakash has more than 215 test prep centers, which coach 250,000 high-schoolers and prepare them for the ultra-competitive engineering and medical entrance tests in India.
Indian parents can put tiger-moms and soccer-moms to shame.
Bangalore-based Unacademy has made a mark for itself in test preparation by offering lessons on everything from civil service and banking to programming languages.
The deal could be signed as early as this weekend and values Byju’s at $10.5 billion, making it India’s second-most valuable start-up after Paytm.
People are trying new things during the Covid-19 lockdown but it is a problem if they pressure themselves to master those hobbies in these stressful times.
Mohandas Pai, head of SEBI panel on primary markets & financial technology, said 10-15 internet & tech firms are looking to list over next 3 years.
Education startup Byju's helps students from kindergarten to year 12, typically attracting people with limited access to good teachers.