Education-technology giant Byju’s has acquired LabInApp Technology Pvt. Ltd, a Bengaluru-based startup that provides laboratory simulation to students via their mobile devices.
LabInApp’s venture capital backer Unitus Ventures will make a complete exit as part of the transaction, according to multiple reports. Unitus had bet on LabInApp along with a few other investors in June 2015.
Byju’s, operated by Think and Learn Pvt. Ltd, confirmed the acquisition but didn’t disclose financial details.
“The acquisition of LabInApp by Byju’s during the course of a global pandemic exemplifies the growth story of innovative ed-tech solutions,” Unitus Ventures managing partner Will Poole said, per The Economic Times.
LabInApp is the latest company that Byju’s has acquired as it steadily grows its product portfolio and market share.
Byju’s biggest purchase so far is of WhiteHat Jr for $300 million (around Rs 2,247 crore) in an all-cash deal last month. At the time, VCCircle reported that investors in Mumbai-based WhiteHat had scored stellar returns on their investments in the company, which was barely 18 months old when acquired.
Previously, Byju’s had bought math learning platform Math Adventures in 2018 and Pearson-owned Tutorvista and Edurite as part of a single deal in 2017.
The ed-tech giant has also been securing cheques from investors at a quick pace. Earlier this month, US-based private equity firm Silver Lake led a new round of funding in the company. Multiple media reports said that Silver Lake and other investors had put in $500 million (around Rs 3,680 crore) in Byju’s at a valuation of $10.8-11 billion.
That fundraise came less than two weeks after Byju’s secured $122 million from DST Global. Earlier this year, Byju’s had also secured an undisclosed sum from Bond Capital, a venture capital firm co-founded by former Kleiner Perkins partner Mary Meeker.