scorecardresearch
Friday, March 29, 2024
Support Our Journalism
HomeEconomyByju’s gets another $300 million of investments as it expands to meet...

Byju’s gets another $300 million of investments as it expands to meet soaring demand

Investors are increasing support for India’s edtech startups such as Byju’s as the country’s pandemic challenge spreads and closes schools.

Follow Us :
Text Size:

India’s online education startup Byju’s raised funding from BlackRock Inc., Sands Capital and Alkeon Capital, as the company expands to meet growing demand for its services.

The round totaled about $300 million and values Byju’s at about $11 billion, according to a person familiar with the matter. Existing backers Tiger Global, General Atlantic and Owl Ventures also invested, the company said, while private equity giant Silver Lake put money into the startup earlier this month.

Investors are increasing support for India’s edtech startups as the country’s pandemic challenge spreads and closes schools. Byju’s was founded by Byju Raveendran, a former teacher and son of educators, who conceived the smartphone app in 2011.

The company, whose investors also include Facebook founder Mark Zuckerberg’s Chan Zuckerberg Initiative, caters to students from kindergarten through 12th grade and has over 70 million registered users and over 4.5 million paid subscribers. It aims to simplify math and science concepts for students through games and videos.

With the coronavirus pandemic, parents, teachers and schools have been forced to adopt digital learning tools. Byju’s rivals are also gathering backers: online learning startup Vedantu raised $100 million from U.S.-based investor Coatue Management, while SoftBank Group Corp.’s Vision Fund is said to be leading a funding round that values Unacademy at $1.45 billion. –Bloomberg


Also read: Byju’s raises another $500 mn, is valued at $11 bn as money flows into online education


 

Subscribe to our channels on YouTube, Telegram & WhatsApp

Support Our Journalism

India needs fair, non-hyphenated and questioning journalism, packed with on-ground reporting. ThePrint – with exceptional reporters, columnists and editors – is doing just that.

Sustaining this needs support from wonderful readers like you.

Whether you live in India or overseas, you can take a paid subscription by clicking here.

Support Our Journalism

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular