Tiger Global Management, the New York-based investment powerhouse has invested Rs 1,400 crores in ed-Tech significant think and learn, which owns and operates k-12 learning app BYJU’S. While BYJU’S confirmed the transaction, the company declined to comment on specific details of the same.

“BYJU’S has emerged as the leader in the Indian education-tech sector. They are pioneering technology shaping the future of learning for millions of school students in India. We are excited to support Byju and the team,” said Shleifer, partner at Tiger Global.

According to sources, Tiger Global has been in talks to invest in BYJU’S for the past few months and also indicated that secondary transactions, estimated at ₹700-₹1,400 crores moreover anticipated that would provide exits to some eight-year-old company’s early backers. The company also recorded an increase in revenue from operations to ₹1,306 crores and managed to control its losses by 76.3% to ₹8.8 crores as compared to ₹37 crores in FY18.