Overview
Byju’s, the world’s most valued edtech startup, seems to be working on its first mega-acquisition of 2021. The Bengaluru-based firm has signed a deal to acquire brick and mortar test prep company Aakash Educational Services for USD 1 billion, a Bloomberg report said late Tuesday, citing sources.
The edtech sector saw investors pumping in about USD 2.22 billion in 2020 alone, compared to USD 553 million in 2019, according to a recent report by Indian Private Equity and Venture Capital Association (IVCA) and PGA Labs. Overall, 92 players received funding in 2020, of which 61 companies received seed funding.