Sources: Byju’s is raising about $1B from B Capital and others at a valuation of about $15B, with plans to raise a further $200M to $300M in the coming weeks — – Funding values Indian online education company at $15 billion — A further $200-$300 million could be raised in coming weeks
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Byju’s, the Indian edtech giant, is set to raise $1 billion in a fresh funding round led by B Capital, the investment firm backed by Facebook co-founder Eduardo Saverin. The latest investment brings Byju’s valuation to $15 billion, making it one of the most valuable education technology companies in the world.
Other investors participating in the funding round include Baron Funds, XN, Arison Ventures, TCMI, and Silver Lake. The investment is expected to support Byju’s expansion plans, including international expansion, and investments in product development, technology, and hiring.
Byju’s is a leading edtech company in India, offering online classes, educational content, and digital learning tools for students from kindergarten to college. The company was founded in 2011 by Byju Raveendran, a former teacher, and has grown rapidly, serving over 100 million students in India and around the world.
The COVID-19 pandemic has accelerated the growth of edtech companies like Byju’s as schools and universities closed down and students turned to online learning. Byju’s reported a 100% growth in revenue in the financial year 2020, reaching $280 million.
The latest funding round follows Byju’s previous investments from high-profile investors like the Chan Zuckerberg Initiative, General Atlantic, and Tencent. The company has raised a total of $2.3 billion in funding to date.
Byju’s is also expanding its portfolio of educational products and services, including the recent acquisition of Aakash Educational Services, a leading test preparation company in India. The acquisition will help Byju’s strengthen its presence in the test preparation market, which is estimated to be worth $10 billion in India.
Byju’s is also expanding into international markets, including the US, UK, and Middle East, where it offers online classes and educational content for students. The company plans to invest in product development and technology to enhance the user experience and improve learning outcomes.
In conclusion, Byju’s latest funding round is a testament to the company’s strong growth and potential in the education technology sector. The investment will help Byju’s expand its reach and offerings, and compete with other edtech giants like Coursera, Udacity, and Khan Academy. Byju’s is poised to become a leader in online education and transform the way students learn and prepare for the future.