K-12 Dealmaking: Carnegie Learning Acquires Virtual Curriculum; Byju’s Raises $250M
Carnegie Learning has acquired the MUSE Virtual School curriculum, the two companies announced last week.
MUSE Virtual is a K-12 online learning platform founded by actress Suzy Amis Cameron and her husband, filmmaker James Cameron. The organization has grown out of the MUSE Global School in Calabasas, California.
Carnegie Learning, a K-12 provider based in Pennsylvania, said it plans to integrate the curriculum into its software and to use it as a building block for future plans with augmented reality and the metaverse.
“In today’s global economy, it is more important than ever for students — regardless of their location — to have seamless access to the best educational products,” said Barry Malkin, CEO of Carnegie Learning. “With expertise in math, literacy, and world languages, the MUSE curriculum brings an added depth to our portfolio, which is unlike any other company in our industry.”
Carnegie Learning has appointed Suzy Amis Cameron to its board of directors and will partner with James Cameron to develop a series of new educational products and services.
Byju’s raises $250 million in new funding. The Indian ed-tech giant’s recent round of funding comes from existing backers, bringing the value of the company to $22 billion.
Based in Bengaluru, the multinational company offers math, coding, reading, music, and creativity through its education technology platform.
The company, in a statement, said Qatar’s sovereign fund, Qatar Investment Authority, participated in the round. Other participants were not disclosed.
“Byju’s is now at that sweet spot of its growth story where the unit economics and the economies of scale both are in its favor,” said Byju Raveendran, CEO and co-founder of Byju’s, in a statement. “Continued support from our esteemed investors reaffirms the impact created by us so far and validates our path to profitability.”
Byju’s has been a juggernaut in its fundraising and has also made a series of acquisitions over the past few years. It came under scrutiny this year for delays in releasing a financial audit, which once unveiled, reportedly revealed financial losses.
Skill-Lync acquires hands-on tech skills platform. India-based ed-tech startup Skill-Lync announced that it acquired Crio, an experiential learning platform for tech careers.
Crio will operate as an independent brand under the Skill-Lync Group. Other terms of the deal were not disclosed.
Skill-Lync, founded in 2018, provides industry-relevant courses for engineering students and graduates across all disciplines. The company has raised $20 million in funding and is backed by investors like Y Combinator and Better Capital, and has received investment from Flipkart’s Binny Bansal in its latest funding round.
Crio, backed by Binny Bansal and other former Flipkart employees, helps students learn practical skills by working on real-world projects.
“We are really excited to become part of the Skill-Lync Group, which shares a similar mission and approach towards learning,” Raithinamurthy R, co-founder of Crio, said in a statement.
Under this acquisition, the companies said they aim to support more than 25,000 students with relevant job opportunities in the next two to three years.
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