Byju's raises $200 mn in fresh funding; valuation surges to $12 bn

BlackRock, T Rowe Price participate in the round; the edtech major's valuation has risen by over $1 bn since last round of fundraising

Less than two months after it raised $500 million in a financing round, edtech decacorn Byju's is learnt to have closed $200 million in a fresh round of funding. This has lifted the Bengaluru-based firm’s valuation to $12 billion - close to $1 billion higher when compared with the previous round. 

Sources close to the development said private equity players such as BlackRock and T Rowe Price participated in the new round. While BlackRock is an existing investor in Byju’s, T Rowe joined as a new investor. 

A Byju’s spokesperson declined to comment on the development. BlackRock and T Rowe