India’s leading education startup Byju’s acquired a U.S. based developer of learning games called Osmo, making it the latest Indian unicorn to expand overseas.
Byju’s, one of India’s most valuable education startups, bought Osmo for $120 million. Though Osmo will continue as a brand once the deal is completed.
“Osmo makes learning more effective and engaging, which is very important with younger children,” Byju Raveendran, Byju’s founder and chief executive officer told Bloomberg. “It takes us into a new age demographic of younger kids as well as fitting into our plans for a bold global expansion.”
Founded in 2013, Osmo uses augmented reality and artificial intelligence to bring physical toys into the digital world. The startup backed by Accel Partners and Mattel Inc. has so far attracted more than 1 million U.S. households.
Byju’s has over 30 million users from 1,700 cities in India, out of which 2 million are paid subscribers. The Bengaluru-based unicorn was valued at $3.6 billion during its last funding round.