Page 22 - Byju's

Litigants' claims in US court over loan to entity 'bewildering': Byju's

Edtech giant says creditors claim about hiding $500 million 'entirely incorrect'

Edtech major Byju's sued by an agent connected to its $1.2 billion loan

The lawsuit was filed by Glas Trust Company and investor Timothy R. Pohl against Byju's Alpha, Tangible Play, Inc. and Riju Ravindran

Edtech startup Byju's sued by creditor Glas Trust Company tied to $1.2 bn

Byju's started negotiating its credit agreement after it breached investor protections on the debt by missing a deadline to disclose annual financial results

Byju's closes Rs 2,000-crore debt funding from Davidson Kempner Capital

This is part of $1 billion funding in a mix of equity and structured instruments

Byju's raises $250 mn from Davidson Kempner Capital at $22 bn valuation

Edtech major BYJU'S is learnt to have closed USD 250 million fundraising from Davidson Kempner Capital and is in the process to close another funding round of USD 750 million by the end of this month, sources aware of the development said on Friday. The company has raised USD 250 million at a flat valuation of USD 22 billion, sources said. "BYJU'S has successfully closed a USD 250 million fundraising from Davidson Kempner Capital Management. This round is part of an ongoing USD 1 billion funding round that has attracted participation from both existing and new investors and will be raised at the current valuation of USD 22 billion," a source aware of the development told PTI. BYJU'S declined to comment on the development. The company raised USD 250 million from existing investors and Qatar Investment Authority in October last year. The company was valued at USD 22 billion in the funding round of USD 800 million, announced in March 2022. "BYJU'S is in the process to close another

Edtech giant Byju's may soon raise $1 billion from ADQ and Oaktree

Once edtech giant closes it, this will be one of the largest funding rounds

ED raid likely to hit edtech giant Byju's $700-million fundraising plan

The Bengaluru-based firm, which achieved a valuation of $22 billion in a funding round in March last year, is in the process of raising $700 million from investors, according to the sources

EdTech startup Byju's seeks to reassure workers after office raid

More than 70 investors have invested in Byju's and they have conducted thorough due diligence, he said. "We are confident that the authorities will also come to the same conclusion," he added

ED searches: Byju's CEO says brought more FDI to India than any other firm

After financial crime-fighting agency ED searched Byju's premises, the education platform's CEO Byju Raveendran wrote to employees saying the company brought more FDI to India than any other startup and that the firm fully complies with all applicable foreign exchange laws. India's most valuable startup, Byju's was once valued at USD 22 billion and has attracted global investors such as General Atlantic, BlackRock and Sequoia Capital. "As we are funded by 70+ impact investors who have satisfactorily done due diligence on our operations, including all FEMA (Foreign Exchange Management Act) compliance, we are confident that the authorities will also come to the same conclusion," Raveendran said in the memo sent late on Saturday, which was seen by PTI. ED had on Saturday searched three premises in Bengaluru linked to the company over alleged foreign exchange law violations. Searches at 'Think & Learn Private Limited' (Byju's online learning platform) yielded "various incriminating ...

ED raids BYJU's under FEMA, yet to submit financial results since FY21

The latest funding round news appeared as the company is aiming to repay a huge $1.2 billion term loan B it had secured in November 2021

ED searches Byju Ravindran's offices, residential premises in Bengaluru

The Enforcement Directorate on Saturday said it has searched the Bengaluru-located office and residential premises of Edtech major BYJU's CEO Raveendran Bjyu and seized "incriminating" documents and digital data as part of a foreign exchange violation probe. A total of three premises, two business and one residential, were raided recently under the provisions of the Foreign Exchange Management Act (FEMA), it said in a statement. The agency said it has seized various incriminating documents and digital data. It said the action was taken on the basis of "various complaints" received by private people and alleged that Raveendran Bjyu was issued "several" summons but he remained "evasive and never appeared" before the ED. The searches found that his company, Think & Learn Pvt. Ltd., received foreign direct investment (FDI) to the tune of about Rs 28,000 crore during 2011-2023. "The company also remitted about Rs 9,754 crore to various foreign jurisdictions during the same period in ..

Layoffs continue at startups; funding winter, macro uncertainty to blame

New-age companies like Byju's, Unacademy, social media firm ShareChat, MyGate, and automobile-servicing startup GoMechanic were among the leading names that fired employees in large numbers

More investments for Byju's? Abu Dhabi's 10X AD, Apollo conduct talks

This comes as the edtech company is looking to raise at least $400 million to $600 million from investors

CFOs in demand at startups amid funding winter, profitability woes

An increasing number of tech companies and startups are scouting for experts ranging from CFO's to industry executives to manage financial affairs and corporate governance amid a funding winter

Byju's lenders ready for loan restructuring but want $200 mn prepayment

Byju's has volunteered to raise the interest rate for the loan by about 200 basis points (bps), but it has not agreed to the prepayment clause so far

Edtech major Byju's to raise $700 million in fresh funding round this month

The latest funding round comes as Byju's is aiming to repay a huge $1.2-billion term loan it had secured in November 2021

Edtech giant Byju's appoints GE and Vedanta executive Ajay Goel as CFO

The edtech giant hired has hired Goel to the company's financial operations, long-term business strategies, and path to profitability

BlackRock slashes edtech giant Byju's valuation by about 50% to $11.5 bn

While BlackRock has slashed Byju's valuation by nearly 50 per cent, Invesco has cut Swiggy's stake value by over 23 per cent

US-based investors significantly cut market valuation of BYJU's, Swiggy

Swiggy reached a $10.7 billion valuation in a round led by Invesco in January last year

Byju's-backed Aakash expecting to cross Rs 3,000 cr in revenues this year

Byju's acquired AESL in 2021 for about $1 billion. Since then, Byju's said AESL's revenue and profits tripled