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BYJU’S raises $300M at $18B valuation

byjus funding

BYJU’S announced that it has raised nearly $300 million at a reported valuation of $18 billion from investors including Oxshott Capital Partners, XN Exponent, Edelweiss, Verition Master Fund, IIFL, and Time Capital Advisors.

The filings reveal that BYJU’S approved an allotment of 77,174 Series F preference shares priced at Rs 285,072 per share.

BYJU’S has already bagged the position of the most valuable startup in the Indian ecosystem, passing Paytm after its last funding round in June this year, where it was valued at $16.5 billion.

The edtech unicorn has been the most active in terms of raising funds as well as acquisitions. The acquisitions have included companies in India as well as abroad.

BYJU’S fund raising also highlights an international expansion by the edtech giant, as it is looking for further M&As.

Reports in several sections of the media point that the latest funding round is part of its strategies to raise further capital, which is expected to come in at a valuation of $21 billion for BYJU’S.

The edtech market in India as well as internationally has received very positive traction from investors, ever since the onset of the COVID-19 pandemic. This environment has pushed the shift towards remote learning or digital, especially at the school level.

This has also witnessed the emergence of newer unicorns from the Indian startup ecosystem. The country now boasts about five unicorns from the edtech segment.

For BYJU’S, the nearest competition comes from companies like Unacademy and Vedantu, though it has now expanded its offering on the online platform.

The edtech giant is reportedly also planning to file for an initial public offering (IPO), which is expected to happen next year and the company could be looking at a valuation of around $50 billion.

Byju’s has emerged as a pioneer in the edtech segment and has made the entire country proud with its growth. I’m sure the future looks as bright for the company as the present. My best wishes to the team of Byju’s.

Shishir Gupta, Founder and CEO, StartupLanes

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