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Byju's in funding talks with TPG, West Asian sovereign funds as debt weighs

Negotiations are ongoing and it's unclear if the prospective investors will go ahead with a deal, the people said, who asked not to be identified as the information is private

Byju's
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Katie Roof, Saritha Rai & Manuel Baigorri | Bloomberg
Byju’s is in negotiations with investors including TPG to raise more than $500 million, a much-needed capital infusion that could help the world’s most valuable edtech startup stave off potential debt issues.
 
Several investment firms including TPG and two Middle Eastern sovereign wealth funds have begun due diligence on the Indian company, which is hoping to keep its valuation steady at about $22 billion during the financing, people familiar with the matter said. That’s despite a global tech rout that’s prompted layoffs in the thousands, depressed global investment activity and shaved billions off the valuations of once high-flying tech startups.

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First Published: Feb 16 2023 | 4:49 PM IST

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