You are here: Home » Companies » Start-ups » News
Business Standard

Byju's in talks to raise up to $700 mn, valuation may cross $15 bn

The funding is expected to help Byju's to fund its acquisitions, including the up to $700 million deal to buy Aakash Educational Services, according to sources

BYJU’s | Byju Raveendran | EdTech

Peerzada Abrar  |  Bengaluru 

Byju’s is closing in on Paytm, which is the most valuable start-up in the country with a valuation of about $16 billion

start-up Byju’s is in talks to raise $500-700 million from new and existing investors in a fresh funding round, which, if successful, would lift the Bengaluru-based firm’s valuation to about $15 billion from $12 billion at present, sources close to the development said.

Byju’s is closing in on Paytm, which is the most valuable start-up in the country with a valuation of about $16 billion.

According to people in the know, Byju’s is in discussions with new investors based in the US and West Asia such as Baring Partners and B Capital, and Malaysia’s sovereign wealth fund Khazanah Nasional. It is also in talks with existing investors such as Qatar Investment Authority, General Atlantic, Tiger Global, Naspers, and Sequoia. “However, existing investors may come into the picture only during the secondary sale of the shares,” said a person.

ALSO READ: Sebi approves a slew of relaxations to norms to encourage start-up listing

The about Byju’s fundraising plans was first reported by Entrackr, a platform that tracks tech

Byju’s declined to comment on the development.

The funding was expected to help Byju’s to fund its acquisitions. The firm is seeking to close the deal to acquire exam preparation firm Aakash Educational Services soon. The deal, valued at $700-800 million, would be the biggest in the education space once closed, said sources.

Byju’s has been on a fundraising spree since last year. The pandemic helped it become a decacorn (a company valued at over $10 billion). The company founded by Byju Raveen­dran has raised about $2.1 billion from investors. It is also backed by investors such as the Chan Zuckerberg Initiative (CZI), founded by Facebook CEO Mark Zuckerberg and Dr Priscilla Chan.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Thu, March 25 2021. 20:56 IST