Edtech unicorn Byju’s has emerged as the largest acquirer in the space. After the $300 million acquisition of WhiteHat Jr, the Bengaluru-based venture is in late-stage talks to acquire Toppr, one of its rivals in the K-12 space, according to three people familiar with the details of the transaction.
India’s biggest e-learning startup, Byju’s, is close to signing a deal to acquire rival Toppr Technologies Pvt. in a transaction valued at roughly $150 million, according to a person familiar with the matter.
Toppr provides online learning materials to students in grades 5 through 12 and its backers include SAIF Partners and Helion Ventures. It is the latest target for Byju’s, which has been expanding aggressively in recent months to capture the surge in demand for online education triggered by the pandemic. In January, it agreed a $1 billion deal to acquire brick-and-mortar test prep leader Aakash Educational Services Ltd.
Mumbai-based Toppr takes an app-based approach to education with video classes, mock tests, revision cards reminiscent of Instagram Stories, and live support for students stuck on a question. It provides its services internationally and counts more than 16 million students, according to its website. Paid subscribers are a fraction of that. It started a code-tutoring unit called Code last summer.
The deal for Toppr’s takeover is close but has not yet been finalized, said the person, who asked not to be named due to its private nature.
