Byju’s, which is an educational startup in India has purchased Osmo, a U.S – based company specialising in ‘playful learning’, for Rs.850 crore ($120 million) according to a report by Times of India.
Osmo was founded by Jerome Scholler and Pramod Sharma who were previously engineers at Google in 2013. The Osmo play system incorporates the idea of mixing digital gameplay with physical interaction in order to make learning fun for kids. Byju’s, which is looking to expand globally will also use the expertise offered by Osmo to improve their position in the domestic market.
Byju Raveendran, the founder of Byju’s, said that the acquisition will help kids between the age groups of 3 years – 8 years learn new things in an interactive manner. Raveendran also said that they are looking to create strong learning products for the kids.
Byju’s started as a coaching initiative for students preparing to sit for competitive exams. The company slowly moved into creating content for schools with the help of videos and graphics and make tough concepts easy to understand. Raveendran said that the company is growing at the rate of 100% for the past three years and is expected to touch Rs.1,400 crore in revenues by the end of March 2019.
Sources: Times of India, Forbes India, Business Standard