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Friday, 9 September 2016

Mark Zuckerberg's Foundation Invests $50 Million in Bengaluru-Based Byju's

HIGHLIGHTS

  • An investment of Rs. 333 crores has been made by CZI
  • Zuckerberg announced the investment in a Facebook post
  • Byju's offers learning programmes for classes 4-12 & competitive exams








India's leading education technology provider Byju's on Thursday announced raising $50 million (Rs. 333 crores) from Chan-Zuckerberg Initiative (CZI) and four venture capital partners to fund its expansion plans.
The four partners are Sequoia, Sofina, Lightspeed and Times Internet.



The investment by CZI, the philanthropic arm of the online social media network Facebook's co-founderMark Zuckerberg and his wife Priscilla Chan, is its first in an Asian firm.
The year-old startup, however, did not disclose the amount of investment made by CZI and each of the four partners to its first round of funding.
source:Gadgets360
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