diff --git a/development/update_studio.sh b/development/update_studio.sh
index eb1951c..1a40e5b 100755
--- a/development/update_studio.sh
+++ b/development/update_studio.sh
@@ -1,7 +1,7 @@
 #!/bin/bash
 # Get versions
-AGP_VERSION=${1:-7.1.0-beta02}
-STUDIO_VERSION_STRING=${2:-"Android Studio Bumblebee (2021.1.1) Beta 2"}
+AGP_VERSION=${1:-7.1.0-beta03}
+STUDIO_VERSION_STRING=${2:-"Android Studio Bumblebee (2021.1.1) Beta 3"}
 STUDIO_IFRAME_LINK=`curl "https://developer.android.com/studio/archive.html" | grep iframe | sed "s/.*src=\"\([a-zA-Z0-9\/\._]*\)\".*/https:\/\/android-dot-devsite-v2-prod.appspot.com\1/g"`
 STUDIO_LINK=`curl -s $STUDIO_IFRAME_LINK | grep -C30 "$STUDIO_VERSION_STRING" | grep Linux | tail -n 1 | sed 's/.*a href="\(.*\).*"/\1/g'`
 STUDIO_VERSION=`echo $STUDIO_LINK | sed "s/.*ide-zips\/\(.*\)\/android-studio-.*/\1/g"`
diff --git a/gradle/libs.versions.toml b/gradle/libs.versions.toml
index ef2a296..6a7333c 100644
--- a/gradle/libs.versions.toml
+++ b/gradle/libs.versions.toml
@@ -2,13 +2,13 @@
 # -----------------------------------------------------------------------------
 # All of the following should be updated in sync.
 # -----------------------------------------------------------------------------
-androidGradlePlugin = "7.1.0-beta02"
+androidGradlePlugin = "7.1.0-beta03"
 # NOTE: When updating the lint version we also need to update the `api` version
 # supported by `IssueRegistry`'s.' For e.g. r.android.com/1331903
-androidLint = "30.1.0-beta02"
+androidLint = "30.1.0-beta03"
 # Once you have a chosen version of AGP to upgrade to, go to
 # https://developer.android.com/studio/archive and find the matching version of Studio.
-androidStudio = "2021.1.1.15"
+androidStudio = "2021.1.1.16"
 # -----------------------------------------------------------------------------
 
 androidLintMin = "27.2.1"