The Indian startup ecosystem is witnessing an extraordinary turn. Mumbai-based Edtech startup WhiteHat Jr. was acquired by Byju’s, the startup founded by a Malayali, for $ 300 Cr, which is Rs 2,240 crore. WhiteHat Jr. has done the fastest exit in India. The acquisition happened within 18 months of the launch of the firm.
WhiteHat Jr. is a startup that gives online coding classes to school students. The acquisition happens at a time when WhiteHat Jr. which had a good start in India and the US has an annual revenue rate of $15 Cr. WhiteHat Jr., which garnered investments from Omidyar Network, Owl Ventures and Nexus Venture Partners will remain as a separate entity under the same name even after the acquisition.
WhiteHat Jr started off as a Kids Creator platform with an investment of $ 1.1 Cr. “However, understanding the potential of technology-driven solutions for human communication urged us to introduce coding curriculum and conduct live sessions for students,” says founder Karan Bajaj.
Byju’s acquires WhiteHat Jr. after recognising the potential of its technology-based curriculum that includes coding. The goal is to expand WhiteHat Jr to more countries. It will soon arrive innada, the U.K., Australia and New Zealand. WhiteHat Jr currently has 5,000 teachers. The curriculum is designed in such a way that each student is assigned to a teacher.
WhiteHat Jr. is currently leading in the online coding space. Byju Raveendran said that Karan has shown great leadership as a founder. Byju’s is also in talks to acquire Doubtnut, an edtech startup that teaches maths and science in local languages to high school students. These acquisitions will help Byju’s reach to the top tier parent community who can afford to spend more on children’s education.
