Insta
Byju’s Becomes India’s Most-Valued Start-Up; Raises $340 Million At $16.5 Billion Valuation
Byju Raveendran, Founder of Byju’s (Hemant Mishra/Mint via Getty Images)
Bengaluru-based ed-tech startup Byju's has raised about $340 million from a clutch of renowned investors like the UBS Group, Blackstone, Abu Dhabi's sovereign wealth fund ADQ, Phoenix Rising-Beacon Holdings and Zoom founder Eric Yuan, reports Economic Times.
The latest funding is said to be a part of $1.5 billion fundraising which the company had begun in April. In April, the company had raised more than $1 billion from notable investors like Baron Funds, Facebook co-founder Eduardo Saverin’s B Capital Group, and US-based hedge fund XN Exponent Holding.
The latest round has valued the company at $16.5 billion. This makes Byju's the most-valued startup in India. It should be noted that Vijay Shekhar Sharma led Paytm, which had so far held the crown to itself was valued at $16 billion during its last fundraising in late 2019.
In 2019, Byju's had raised a total of $533 million. Thereafter, in 2020, Byju's alone accounted for around $1 billion of the $2.2 billion raised by the entire set of Indian ed-tech startups.
Meanwhile, Byju's has also been on an acquisition spree lately, having acquired companies like Aakash Educational Services, WhiteHat Jr, Scholr, Osmo and Toppr. The closure of Toppr's acquisition is still to be announced. It is also said to be in talks with Gradeup and Great Learning.
Support Swarajya's 50 Ground Reports Project & Sponsor A Story
Every general election Swarajya does a 50 ground reports project.
Aimed only at serious readers and those who appreciate the nuances of political undercurrents, the project provides a sense of India's electoral landscape. As you know, these reports are produced after considerable investment of travel, time and effort on the ground.
This time too we've kicked off the project in style and have covered over 30 constituencies already. If you're someone who appreciates such work and have enjoyed our coverage please consider sponsoring a ground report for just Rs 2999 to Rs 19,999 - it goes a long way in helping us produce more quality reportage.
You can also back this project by becoming a subscriber for as little as Rs 999 - so do click on this links and choose a plan that suits you and back us.
Click below to contribute.
Latest
