Edu-tech major Byju’s to raise $200m
Edu-tech major Byju’s is raising about $200 million (about Rs 1,483 crore) in fresh funding from investors, including BlackRock and T Rowe Price, according to sources.
The development comes about two months after Byju’s had raised around $500 million (about Rs 3,672 crore) in a round that valued the company at $10.8 billion.
According to sources, Byju’s has obtained $200 million in a fresh round of funding that has increased the company’s valuation to $12 billion. The sources said private equity players BlackRock and T Rowe Price are participating in the new round.
Byju’s has mopped up significant capital this year.
In June, Byju’s had raised funding from global technology investment firm BOND, while in February, it had raised about $200 million in funding from General Atlantic. Regulatory filings by Byju’s to the corporate affairs ministry in August had shown that the company has obtained about Rs 909 crore from billionaire Yuri Milner-led DST Global giving the entity 1.2 per cent shareholding in the edu-tech company.
In September this year, Byju’s had raised funds from Silver Lake and existing investors, Tiger Global, General Atlantic and Owl Ventures.