Edutech major BYJU'S has acquired Unitus Ventures-backed LabInApp for an undisclosed amount.
LabInApp offers science lab-like simulation on mobile devices, curating interactive and immersive learning experience for students and teachers.
Byju's confirmed the development.
"Technology has become the core to most human essentials, with edtech topping the charts, especially in the pandemic world. While schools have their set of challenges, students shouldn't miss out on experiential learning. Keeping this in mind, we have created a virtual learning and teaching environment representing science laboratories where teachers can teach practical concepts to students," LabInApp Co-founder and CEO Pavan Shinde said.
He added that to further scale LabInApp's products and potential, there was no better educational platform than BYJU'S, which has a huge number of K-12 students actively using their services.
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"The acquisition of LabInApp by BYJU'S during the course of a global pandemic exemplifies the growth story of innovative edtech solutions," Unitus Ventures Managing Partner Will Poole said.
He added that Unitus remained steadfast in mentoring early-stage startups applying advanced technology to meet the needs of India's lower-income populations and supporting them to scale newer heights.
Founded in 2015 by Pavan Shinde, Girish Shirigannavar, Pramod Ramdurg, and Vinayak Hulabutti, LabInApp's solution has more than 5,000 schools on-board across India. There are 550 simulations on LabInApp with more in various stages of development. The content is designed as per the NCERT guidelines and supports all major curriculum from Classes 6 to 12.
Unitus Ventures invested in LabInApp in 2015-16 along with Sylvant and Sandeep Maheshwari as angel investors.
With BYJU'S acquisition, Unitus will exit the company completely, the statement said.
Earlier in August , BYJU'S acquired coding startup Whitehat Jr for $300 million, making it one of the biggest deals in the edtech space.
(Disclaimer: Additional background information has been added to this PTI copy for context)
Edited by Teja Lele Desai
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Link : https://yourstory.com/2020/09/byjus-acquires-unitus-funded-edtech-startup-labinapp
Author :- Press Trust of India ( )
September 18, 2020 at 07:10AM
YourStory