Ed-tech startup Byju has raised $500 million as a fresh fund in the funding round led by US-based private investor, Silver Lake along with the participation of existing investors including Tiger Global, Owl Ventures and General Atlantic.

The new funding round has valued Byju at $10.8 billion from its last valuation of $10.5 billion in its Series F round which was closed in August. “This is a separate corporate round different from the earlier Series F round which was closed in August 2020, and there more new international investors who are expected to fund Byju’s in the next few quarters,” said a person aware of the deal.

Byju has raised a funding of $1 billion including its Series F rounds in which both the Tiger Global and General Atlantic had invested $200 million each. On 27th August 2020, DST Global invested $122 million, and in June, it raised another $100 million from US Technology Investor Bond.

Greg Mondre, Co-CEO of Silver Lake said, “We are delighted to lead this investment and partner with Byju and his impressive team of education technology pioneers in their mission to help children in India and around the world achieve their true potential “.

During the pandemic period, other learning platforms like Unacademy, Toppr, and Vedantu have also raised funding. Unacademy had raised a funding of $150 million from Japan’s Softbank and is valued at over 1.4 billion, while Toppr has raised $50 million, and Vedantu raised $100 million from NY-based hedge fund Coatue, valuing at $600 million.a