Byju's to raise $600 mn, in talks with Abu Dhabi's sovereign wealth funds

The firm also plans to hire 10,000 teachers in the next six months, adding to the current strength of 20,000 teachers

Byju’s is planning to raise $500-600 million from Abu Dhabi’s sovereign wealth funds and existing investors, according to sources, as the start-up world is facing a funding freeze. The educational technology (edtech) giant targets profitability by March next year. “There is no change in Byju’s valuation. The new fundraising process is still going on,” said a person familiar with the matter. “Any new valuation would be determined in the future as it is very tough for investors to do that in this environment.”

Byju’s didn’t respond to queries on the company’s fundraising plans.

In its last round, the firm had raised $250