Edtech major Byju’s is on a shopping spree. In the last phase of the takeover of the Aakash Institute and the Toppr supported by SAIF Partners, the company acquired another Edtech startup. According to three people who have been informed of the details of the transaction, Byju’s took over Scholr in a cash deal.
“The deal was signed earlier this month and is expected to be announced soon,” said one of the sources on condition of anonymity. “The size of the shop is in the range of 15-20 rupees.
Scholr offers video solutions for grade 6-10 students to resolve their doubts about Android and iOS apps. Students need to click and upload the images of their queries to find instant solutions for all subjects such as math, physics, chemistry, and biology, according to their website.
The company specializes in homework assistance in NCERT textbooks, State Board textbooks, and other board books. The app also provides academic support for users of peers and experts on the platform.
“Shortly after Byju’s talks with Doubtnut failed, the company was looking for a startup with a similar DNA. Scholr fits the bill because his offers are parallel to Doubtnut, ”said the second person who did not want to be named. The acquisition of Scholr also marks Byju’s advance into the area of needs-based removal of doubts.
It’s worth noting that Byju’s and Doubtnut were in late-stage discussions for a possible acquisition. The Deal failed due to valuation differences.
EntrackrByju and Scholr’s immediate inquiries did not trigger any responses. We’ll update the story in case they answer.
Scholr was incubated at the Sardar Patel Technology Business Incubator (SP-TBI) and founded in 2015 by Himanshu Nimje, Manil Gupta, Piyush Agarwal and Aniket Singh. While Agarwal Left Scholr led the supply strategy for OYO India and South Asia in 2019. Singh left the Mumbai-based company in 2016 and currently works at Dunzo as Head of Strategic Planning, Corporate Finance and Analytics.
According to Tracxn, Scholr raised around $ 382,000 in several start-up rounds from Zone Startups India, 50K Ventures, Edupreneur Village Fund and IIIT-H Seed Fund as well as Xseed Partners among his investors.
Since the second half of 2020, the company led by Byju Raveendran has been striving to strengthen its leadership position in the Edtech sector. Last August, it had acquired the child-oriented online coding platform WhiteHat Jr all in one 300 million dollar deal.
A contract was also signed to acquire stationary test preparation company Aakash Educational Services for $ 1 billion. Byju’s is in late-stage talks with Toppr to acquire the Zeeshan Hayath-led company for $ 150 million. Entrackr would have exclusively reported the development last week.