BENGALURU, INDIA – The world’s largest education technology unicorn, BJYU’s, has launched its new innovation hub, BJYU’s Lab. The company, known best for its online learning platform BJYU’s Future School, launched the product on November 9th, in its continued effort for global market expansion. This innovation hub, based out of the UK, the US, and India, makes use of EdTech’s newest and most sought-after technologies, from augmented reality and artificial intelligence (AI), to computer vision capabilities and gamification.
Dev Roy, Chief Innovation and Learning Officer of BYJU’S said, “The role of online learning is not just to replicate offline classes in digital space but to make it more interactive, engaging, and personalized.
Roy continues: “By combining the ability of computing, technology, and data, we at BYJU’S Lab, want to explore the power of information and technology to create more personalized, enhanced, and democratized learning. As a global company, we are looking to harness a global talent pool to build innovative tools and leverage new technologies to positively impact the learning experiences of children across the world. As we continue to grow and experiment, we will operate at the intersection of business and technology to make innovation real and relevant for our end customers. We are looking at strengthening our team and look forward to working with bright and curious minds to transform the way children learn,” he added.
BJYU has amassed over 100 million online students, 6.5 million of which are paid subscribers, across its learning products.
It’s most popular of which, BJYU’s Future School and BJUY’s Exam Prep have found users from Indonesia to Mexico. BJYU’s products cover a range of educational topics and modes of learning, from classes in coding and maths to vocational exam preparation in banking and law. With an already strong education base, the launch of BJYU’s LAB will see the company incorporate the use of new technology into its learning products.
BJYU’s is currently valued at $18 billion, recently securing $1.2 billion via a term loan from the overseas market, raising much more than its projected $700 million. The company’s buying portfolio has attributed to much of its growing success. BJYU’s acquired AR-focused EdTech company Osmo for $120 million in 2019, as well as the online reading platform Epic for $500 million. From partnering with European and US investors, and securing the $1.2 billion in funding, BJYU’s is looking to expand through further acquisitions. The innovation lab is an effort to cement its reach in the overseas EdTech market.
BJYU’s is also shifting its focus to tech engineers and industry professionals. For BJYU’s Lab, the company is looking to hire machine learning and AI experts from the UK, US, and India. This ensemble of new professionals will work, according to BJYU’s, “to make technology transparent for the user and harness it in a way that tech-enabled education can reach the largest number of people.”
Featured Image: Julia M Cameron, Pexels.