Ed-tech startup Byju is close to raise a fresh funding of $200 million from US investment firms BlackRock and T. Rowe Price Group at a valuation of $12 billion, said a person aware of the matter.
In September, the edtech major has raised $500 million in the last fund round from a of investors including global equity firm Silver Lake Partners along with its existing investors General Atlantic, Owl Ventures and Tiger Global at a valuation of $10.8 billion. Later, BlackRock, Sands Capital and Alkeon Capital joined as new investors in the same round, valuing the firm at $11.1 billion.
The company has reached a level where it has an option for an initial public offering (IPO), though the timeline is still not decided, said Byju’s Founder, Byju Raveendran.
The Bengaluru-based startup is India’s second-most valuable startup, also earned the decacorn status that resulted in surge of investors’ interest. Since the lockdown, the edtech firm has added over 25 million new students on its interactive platform and its app has over 73 million registered students and 5.1 million annually paid subscriptions.Ed-tech startup Byju is close to raise a fresh funding of $200 million from US investment firms BlackRock and T. Rowe Price Group at a valuation of $12 billion, said a person aware of the matter.
In September, the edtech major has raised $500 million in the last fund round from a of investors including global equity firm Silver Lake Partners along with its existing investors General Atlantic, Owl Ventures and Tiger Global at a valuation of $10.8 billion. Later, BlackRock, Sands Capital and Alkeon Capital joined as new investors in the same round, valuing the firm at $11.1 billion.
The company has reached a level where it has an option for an initial public offering (IPO), though the timeline is still not decided, said Byju’s Founder, Byju Raveendran.
The Bengaluru-based startup is India’s second-most valuable startup, also earned the decacorn status that resulted in surge of investors’ interest. Since the lockdown, the edtech firm has added over 25 million new students on its interactive platform and its app has over 73 million registered students and 5.1 million annually paid subscriptions.