Mark Zuckerberg's philanthropic arm to invest in Bengaluru-based startup Byju's
CZI will co-invest in the $50-million round in Byju's along with Sequoia Capital, Sofina+ , Lightspeed Ventures and Times Internet.
- Sep 9, 2016,
- Updated Sep 9, 2016 1:33 PM IST
The Chan-Zuckerberg Initiative (CZI), founded by Facebook's Mark Zuckerberg and his wife, Priscilla Chan, is making its first investment in a Bengaluru-based learning app, Byju's.
CZI will co-invest in the $50-million round in Byju's along with Sequoia Capital, Sofina+ , Lightspeed Ventures and Times Internet.
"The Chan-Zuckerberg Initiative supports innovative models of learning wherever they are around the world," said Vivian Wu of CZI, who will join Byju's board.
"Education can give young people and their families a path to a better future, and families in India work hard to give their children that chance. Byju's represents an opportunity to help even more students develop a love for learning and unlock their potential," Wu added.
Byju's was founded in 2011 as a test preparation business, helping CAT aspirants crack the exam. It expanded into other competitive exams, operating through physical classrooms.
It reached its peak when it launched a mobile app last year which helps in effective learning programmes for students from classes 4 to 12 and competitive exams like JEE, NEET, CAT, IAS, GRE and GMAT.
The Chan-Zuckerberg Initiative (CZI), founded by Facebook's Mark Zuckerberg and his wife, Priscilla Chan, is making its first investment in a Bengaluru-based learning app, Byju's.
CZI will co-invest in the $50-million round in Byju's along with Sequoia Capital, Sofina+ , Lightspeed Ventures and Times Internet.
"The Chan-Zuckerberg Initiative supports innovative models of learning wherever they are around the world," said Vivian Wu of CZI, who will join Byju's board.
"Education can give young people and their families a path to a better future, and families in India work hard to give their children that chance. Byju's represents an opportunity to help even more students develop a love for learning and unlock their potential," Wu added.
Byju's was founded in 2011 as a test preparation business, helping CAT aspirants crack the exam. It expanded into other competitive exams, operating through physical classrooms.
It reached its peak when it launched a mobile app last year which helps in effective learning programmes for students from classes 4 to 12 and competitive exams like JEE, NEET, CAT, IAS, GRE and GMAT.