The acquisition, for an undisclosed amount, will give Unitus Ventures, a backer of LabInApp, a full exit.
Hubli-based LabInApp uses technologies to make desktop and mobile games to create virtual simulations of science experiments, giving students an ability to gain practical knowledge in the absence of physical infrastructure.
“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,” said Pavan Shinde, cofounder and CEO of LabInApp.
The startup said it had onboarded over 5,000 schools for its product with its simulations covering concepts across Physics, Chemistry, Biology and Mathematics, for students in grades 6-12.
“Acquisition of LabInApp by Byju’s during the course of a global pandemic exemplifies the growth story of innovative ed-tech solutions. Unitus remains steadfast in mentoring early stage start-ups applying advanced technology to meet the needs of India’s lower-income populations,” said Will Poole, Managing Partner at Unitus Ventures.
The acquisition comes soon after Byju’s raised $500 million in funding led by US private equity giant Silver Lake at a $10.8 billion valuation. The company is looking to utilise the capital to aggressively expand the segments it is present in and grow its presence outside India.
In August, Byju’s acquired smaller rival WhiteHat Jr for $300 million, a deal aimed at opening the door for the Indian ed-tech company’s entry into the US market.