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BYJU’s Valuation Zooms By Unprecedented $2 Billion To All Time High Of $5.5 Billion
Founder and CEO of BYJU’S learning app, Byju Raveendran(Photo by Hemant Mishra/Mint via Getty Images)
Leading Indian ed-tech startup Byju's valuation has soared by a massive $2 billion to over $5.5 billion in the ongoing Series F round, as investors rushed for a pie in the startup's shares, reports Mint.
One of India's most valued startups, Byju's has so far raised $460.8 million in the ongoing Series F round of fundraising led by South Africa’s Naspers, private equity firm General Atlantic, and Canada Pension Plan Investment Board.
Under the present round, the company had first raised funds in December 2018 at a valuation of $3.5 billion. Thus, a valuation of $5.5 billion marks significance as such large valuation differences within a round are uncommon.
Byju’s is said to be benefiting from Indian parents’ willingness to spend on education to give their children an edge. It has already attracted more than 35 million students, assisting them to understand concepts in maths, science and English. Also, as per some investors, Byju's expansion into grades I-III and entry into the US market have contributed to the valuation jump.
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