International Finance Corporation (IFC) is investing up to $15m for a minority stake in Indian edtech firm Byju's. The education company's K-12 learning app launched last year and offers learning programmes for high school pupils. It has nearly seven million downloads and adds 30,000 pupils a month, according to Byju's. In the US, Apple Inc (AAPL) recently announced it would invest $1bn into an online tutoring company called Coursera.
International Finance Corporation (IFC) is investing up to $15m for a minority stake in Indian edtech firm Byju's. The education company's K-12 learning app launched last year and offers learning programmes for high school pupils. It has nearly seven million downloads and adds 30,000 pupils a month, according to Byju's. The funds from IFC, the investment branch of the World Bank, will help Byju's expand its services and boost its technology investment.