With $500 mn funding led by Silver Lake, Byju's valuation crosses $10.8 bn

Byju's is rapidly narrowing the gap to become the most valuable startup in the country after digital payments firm Paytm, which is valued at around $16 billion

Byju’s, an edtech company, has raised $500 million in a new round of funding from Silver Lake, the leading global technology investment firm, according to sources.

Though the company confirmed the development, it declined to reveal the amount.

This year Silver Lake invested Rs 10,202 crore in Mukesh Ambani-led Jio Platforms.

Existing investors Tiger Global, General Atlantic, and Owl Ventures are also participating in this round. The new funding has increased the valuation of the Bengaluru-based firm to $10.8 billion.

The firm was valued at $10.5 billion when it received funding from Silicon Valley investor and analyst Mary Meeker’s Bond Capital in June.

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