Byju's has received investments from Mary Meeker and Yuri Milner, and now from private equity firm Silver Lake, taking valuation close to $11 bn. In an interview, the CEO tells us what all this means
The edtech boom will be driven not just by investors but also by demand from teachers
Existing investors General Atlantic, Sequoia Capital, Nexus Venture Partners, Facebook, and Blume Ventures also participated in the round
Fund will be invested in about 30 start-ups in areas such as health, machine-driven intelligent services, edtech, agritech, and logistics with an average ticket size between $500,000 and $4 million
The edtech firm is doubling down on global expansion in markets such as the Middle East, Africa and the Far East, and expects to cross Rs 500 crore revenues in FY2020-21
However, there has been no change in Byju's valuation after this funding
Unitus Ventures leads investment, other participants include India Quotient and AngelList India
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UpGrad 2.0 will expand focus from professionals to include fresh graduates as it enters a new phase of its own evolution
Investors say most of the edtech companies are seeing 3-5X rise in free audiences and anywhere 50-100% growth in monthly revenues due to Covid
The deal is the biggest in the Indian edtech sector by far
With this round, the Bengaluru-based firm's valuation jumped to $600 million, making it the second most-valued company in the Indian edtech space
This is the Bengaluru-based company's third acquisition this year after programming platform Codechef and exam preparation start-up Kreatryx
To offer BBA, BCA, MCA, MBA and LLM with Jamia Hamdard, O P Jindal Global University
They are betting on blended learning being the new normal in the post-Covid world, thanks to a more receptive and savvier customer emerging from the crisis
The sector has seen eight investments alone in April from VCs and angel investors
Ashish Dhawan, founder of Central Square Foundation (CSF) spoke to Anjuli Bhargava on how he sees the future of education
Closing of educational institutions during lockdown offers promise of huge gains
Edtech products and companies are still looked at with suspicion by brick-and-mortar players in India's education space
The edtech start-up is addressing the problem of the employability of Indian engineers, which continues to be as low as 20 per cent