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Indian Ed-tech Startup Byju’s Valuation Surges To $10.5 Billion With Latest Fund Raising Round
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With its latest funding round, renowned Indian education startup Byju's has been valued at a staggering $10.5 billion, reports Financial Express.
The startup is believed to have raised less than $100 million from US-based Bond which is a global technology investment firm. This marks Bond's first-ever investment in India and Byju's third such fundraising activity in 2020 so far.
Earlier in January and February, the startup had raised $200 million each from Tiger Global Management and General Atlantic respectively, both of which are noted investors from the United States (US).
With the close of the latest round, Byju's has raised about $1.45 billion in its lifetime from a wide array of leading investors including Naspers, Tencent, Verlinvest and Sequoia Capital.
As of present, Byju's has more than 57 million registered students and over 3.5 million paid subscribers. Also, it should be noted that between FY 19 and FY 20, the firm nearly doubled its revenues from Ra 1,430 crore to Rs 2,800 crore.
Byju's has recently witnessed its number of users surge by a whopping 200 per cent during the lockdown. This was achieved as the company had made access to its entire content free for the course of lockdown.
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