Bengaluru-Based Byju's Sees Its Valuation Jump To Over 13 Billion As Ed-Tech Major Raises Another $460 Million

Led by Byju Raveendran, Bengaluru-based ed-tech startup Byju's has raised around $460 million in a new financing round at a valuation of a little over $13 billion, reports Economic Times.

The latest funding round (Series F) was led by MC Global Edtech Investment Holdings LP. It has acquired a 1.73 per cent stake in Rs 1,628 crore.

Other investors in the round include Tiga Investments, TCDS (India) LP, Arison Holdings, XN Exponent Holdings, Baron Emerging Markets Fund and Baron Global Advantage Fund, which have together picked up a 1.21% stake in the company.

The ed-tech company is likely to use the funds raised to fund its acquisition of Aakash Educational Services which is being pegged at $700-800 million in size. Byju's is set to acquire private Aakash Educational Services, which owns and operates more than 200 physical tutoring centres across the country.