Byju’s, India’s best-funded edtech startup, adds yet another milestone to their hat through the acquisition of Osmo, a startup based in California. Founded by Pramod Sharma and Jerome Scholle, Osmo is an online platform that makes Augmented Reality and Virtual Reality products to “make learning fun”. They also harbor the power provided by Artificial Intelligence to improve the user experience on their products. Osmo’s primary target are kids in the age group of 3-8.
Byju’s hopes to attract a new demographic – the new tech-savvy cool kids of the block who want to learn through technology – with this acquisition. Augmented Reality (AR) and Virtual Reality (VR) are one of the fastest growing technologies, with companies like Ericsson officially taking the leap. Educational products involving the use of technology also allow parents to participate in the learning process, opening up a large number of possibilities.
The deal was worth a whopping $120 million, a decent amount good enough for both sides. Byju’s can leverage Osmo’s reach to extend their products to newer markets, while Osmo can use Byju’s resources to grow with the backing of one of the world’s best funded startups in the field of educational technology.
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