Facebook-backed edtech Byju’s does not seem to slow down. The company, which has been on an aggressive acquisition spree, has now acquired Scholr in an all-cash deal.
AI-enabled automated-answering platform provides video solutions for class 6 to 10 students to solve their doubts via Android and iOS apps. Students are required to click and upload pictures of their queries to find instant solutions across subjects including Maths, Physics, Chemistry, Biology etc.
“The deal has been signed early this month and likely to be announced soon,” said a source to . “The size of the deal is in the range of Rs 15-20 crore.”
The report also stated that the edutech company was in talks with Doubtnut, before approaching Scholr. However, due to the difference in valuation Byju’s and Doubtnut did not close the deal.
Incubated at Sardar Patel Technology Business Incubator (SP-TBI), Scholr was founded by Himanshu Nimje, Manil Gupta, Piyush Agarwal and Aniket Singh in 2015.
In January, Bjyu’s acquired test prep leader Aakash Educational Services Ltd for USD 1 billion and acquired startup WhiteHat Jr for USD 300 million. The valuation of Bangalore-based Byju’s is estimated to be around USD 11-12 billion.
The app has around 70 million registered students and 4.5 million annual paid subscribers, as per the company. The company has doubled its revenue to Rs 2,800 crore in FY19-20 from Rs 1,430 crore in the previous fiscal.