India’s biggest e-learning startup, Byju’s, is close to signing a deal to acquire rival Toppr Technologies Pvt. in a transaction valued at roughly $150 million, according to a person familiar with the matter.
Toppr provides online learning materials to students in grades 5 through 12 and its backers include SAIF Partners and Helion Ventures. It is the latest target for Byju’s, which has been expanding aggressively in recent months to capture the surge in demand for online education triggered by the pandemic. In January, it agreed a $1 billion deal to acquire brick-and-mortar test prep leader Aakash Educational Services Ltd.
Byju’s and Toppr representatives did not immediately respond to emails seeking comment.