Byju's to invest $200 million to expand hybrid tuition model

India's largest ed-tech company, Byju's is planning to invest a whopping $200 million to expand and build its hybrid tuition business. The infusion will take place over the next two years.

Head of Byju's Tuition Centres, Himanshu Bajaj said, "We have USD 200 million to invest over the next two years for use in exponential expansion of the 'Tuition Centre model. We have now 100 centres in 23 cities but by December we will have 500 centres across 190 cities. The next year's expansion plan is not yet frozen," reported the PTI.

Further, Bajaj said Bengal remains in the top three markets for the company and soon will be expanding in the smaller towns of the state by December.

He added, "We will have 20 centres across Bengal by December 2022 from five centres now, of which 10 will be outside Kolkata."

Byju's valued at $22 billion currently, has raised $800 million (approximately ₹6,000 crore) in March through a funding round under which companies like Sumeru Ventures, Vitruvian Partners, and BlackRock also participated.

The company's Tuition Centre programme is for students that bring together the best of offline and online learning experiences.

Bajaj stated that they plan to enroll some 2.5 to 3 lakh students in the hybrid tuition model in the near distant future.

Also, Bajaj said that the model focuses on all boards of education for students between grades 4 to 10 and monthly fees range between ₹3500-4000 per month. All centres will be company-owned and operated for standardised teaching model.