CPPIB joins $540 mln investment in Indian tech startup: Reuters

South African internet giant Naspers and Canada Pension Plan Investment Board (CPPIB) have invested US$540 million in Indian educational technology startup Byju’s, Reuters reported. Bengaluru-based Byju’s launched a learning app in 2015 that offers tools for school students in India, a country with the world’s largest number of children in primary education. The latest investment values the company at around US$3.6 billion, Indian media reported. CPPIB, one of the world’s biggest investors, is expanding its interests in India due to the country’s young population and growing middle class, its chief executive said last week.

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