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Byju’s draws over $455 mn as part of ongoing mega growth funding round

Byju’s draws over $455 mn as part of ongoing mega growth funding round
Photo Credit: 123RF.com
13 Apr, 2021

As part of its ongoing $1 billion growth funding round, dubbed Series F, edtech Byju’s has raised over $455 million (Rs 3,433 crore) from a clutch of investors, including asset management firm Baron Funds, Facebook co-founder Eduardo Saverin’s B Capital Group and hedge fund XN Exponent Holding. 

Silver Lake Management, Owl Ventures and T Rowe Price, Disruptive Technology Solutions, Footpath Ventures, The Prudential Assurance Company, Olay and Investments and GSV were returning investors in the latest round, contributing over Rs 7,124 crore, the company’s regulatory filings showed. 

Email queries to Byju’s on the latest infusion did not elicit responses till press time. 

Last month, Byju’s raised $460 million as part of the same Series F round. 

The latest tranche comes shortly after Byju’s said it was acquiring Aakash Educational Services Ltd (AESL) to bolster its presence in the test preparation segment in the country.  

The latest fundraising values Byju’s parent Think & Learn at $15 billion, The Economic Times reported citing sources. However, this could not be independently verified. 

In September last year, Byju’s secured $500 million at a valuation of $10.8 billion from a slew of investors including private equity firm Silver Lake Partners, along with existing investors General Atlantic, Owl Ventures and Tiger Global.   

The company achieved its decacorn status in June last year after receiving funding from global technology investment firm Bond.  

Byju’s claims to have 50 million registered students and 3.5 million annual paid subscribers on its platform.