Edtech Byju’s start-up raised $ 460 million in the latest round of Series F funding, taking $ 1 billion from FY21. The latest financial cycle was led by MC Global Edtech Investment Holdings LP. A total of 140,233 Series F CCPS (compulsory optional shares) with a face value of Rs 10 and a premium of Rs 2,37,326 per allocation was given, Entrackr, the start-up platform, reported the input control quotes. With this amount, edtech’s initial estimate exceeded $ 13 billion.
In addition to MC Global, eight other investors, including B Capital ($ 77 million), Baron Emerging Market Fund ($ 80 million), XN Exponent Holdings ($ 1.5 million), Arison Holdings ($ 15 million) and TCDS India ($ 14 million). money on home decacorn. The latest funding is part of the BYJU program to raise about $ 700 million from new and existing investors to achieve an estimated value of $ 15 billion.
The latest money has led to a reduction in the company’s stake in founder Byju Raveendran and family to 26.9 percent.
The Bengaluru-based edtech company has seen a dramatic increase in its ratings due to the ongoing epidemic as education, has gone viral online as schools and colleges are closed to continue curbing the spread of coronavirus.
By November 2020, Byju had raised $ 200 million in a round of sponsorship from independent players (PE) BlackRock and T Rowe Price players. This has increased the number of online education startups to $ 12 billion, about $ 1 billion more since the first round in September raised $ 500 million in a group of investors including PE’s Silver Lake Partners company, Tiger Global, General Atlantic, and Owl Ventures for a total of $ 10.8 billion.
At the close of the season, the start-up proven stellar growth could add more than 25 million new students to its place. To date, the app has more than 70 million registered students and an annual subscription of 4.5 million.
In addition, renewed investor interest also made the company the most important startup in India, which also acquired the position of decacorn. Decacorn is a company worth more than $ 10 billion.
With the latest financial cycle, Byju continues to narrow the balance gap with the digital payment platform Paytm, currently enjoying an estimated $ 16 billion, according to the Hurun India Unicorn Index 2020