wordpress blog stats
Connect with us

Hi, what are you looking for?

, ,

Byju’s raises $460 million in ongoing Series F round: Report

OLYMPUS DIGITAL CAMERA

Online learning company Byju’s has raised close to US$460 million (about Rs 3,328 crore) in an ongoing Series F round led by MC Global Edtech Investment Holdings LP, The Economic Times reported.

MC Global Edtech led the current round with an investment of $225 million (about Rs 1,628 crore) for a 1.73% stake in the company. The round also saw participation from Facebook cofounder Eduardo Saverin’s B Capital, among other investors. B Capital’s investment totalled $77 million (or Rs 561 crore) for a 0.59% stake in the company. Other investors include Tiga Investments, TCDS (India) LP, Arison Holdings, XN Exponent Holdings, Baron Emerging Markets Fund and Baron Global Advantage Fund.

The holding of the promoters’ group in Byju’s, which includes founder Byju Ravichandran and his family, is now down to 26.09%.

While this is Byju’s first fundraise in 2021, the company saw several rounds of investments in 2020 as well. In January, Tiger Global had invested $200 million in Byju’s, which was followed by an investment of the same size by General Atlantic in February. Then in June, the company had raised around $100 million from US-based investor Bond, and raised another $122 million funding from DST Global in August. The same month, Byju’s had acquired Mumbai-based edtech startup WhiteHat Jr. for $300 million. The company offers online coding classes to students in India and the US.

In September 2020, the company raised $500 million from multiple investors including Silver Lake Partners and existing investors General Atlantic, Owl Ventures and Tiger Global. The same month, three US-based investors — BlackRock, Sands Capital, and Alkeon Capital invested a reported $300 million into the company along with existing investors. At the time, Byju’s said it had added over 25 million users on its platforms since lockdown, and had over 70 million registered users and 4.5 million paid subscriptions. It had also claimed that it had almost doubled its revenue from ₹1,430 crore in FY 18-19 to ₹2,800 crore in FY 19-20.

Advertisement. Scroll to continue reading.

Read more 

Written By

I cover health, policy issues such as intermediary liability, data governance, internet shutdowns, and more. Hit me up for tips.

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

When news that Walmart would soon accept cryptocurrency turned out to be fake, it also became a teachable moment.

News

The DSCI's guidelines are patient-centric and act as a data privacy roadmap for healthcare service providers.

News

In this excerpt from the book, the authors focus on personal data and autocracies. One in particular – Russia.  Autocracies always prioritize information control...

News

By Jai Vipra, Senior Resident Fellow at Vidhi Centre for Legal Policy The use of new technology, including facial recognition technology (FRT) by police...

News

By Stella Joseph, Prakhil Mishra, and Yash Desai The Government of India circulated proposed amendments to the Consumer Protection (E-Commerce) Rules, 2020 (“E-Commerce Rules”) which...

You May Also Like

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ