India's leading e-learning start-up, Byju, is about to sign a deal to acquire Toppr Technologies Pvt. in a deal of the approximate value of $150 million. It will be the third-largest acquisition for Byju's after it took over WhiteHat Jr, Kid-focused coding platform for $300 million in August 2020 and recently signed an agreement to acquire Aakash Educational Services for $1 billion.
Founded in 2011 by Byju Raveendran, Bangalore based startup has become India's leading provider of e-learning. The firm spent the second half of 2020 raising capital from big names such as Mary Meeker and Yuri Milner.
Founded in 2013 by Zishaan Hayath and Hemanth Goteti, Mumbai based Toppr adopts an application-based approach to education with video lessons, simulations, tests, review maps that recall Instagram stories and live support for students stuck on an issue. The major investors of Topper are Eight Roads Ventures, Helion Venture Partners, Elevation Capital (former SAIF Partners) and Alteria Capital.
In June 2020, Byju was also in talks with Doubtnut, an e-learning platform for the acquisition of Gurugram-based startup.