Byju's raises $250-M from existing investors at flat valuation

Bengaluru-based edtech Unicorn Byju's has raised USD 250 million from existing investors, including Qatar Investment Authority (QIA), at a USD 22 billion valuation - the same valuation as its previous round. Byju's had reported a loss of INR 4,589 crore for the financial year 2020-21 on a revenue of INR 2,428 crore in September. It claimed a gross revenue (unaudited) of INR 10,000 crore for FY22. Recently, while announcing the layoffs, it also said that it plans to achieve company-level profitability by FY23. Byju's also plans to integrate its K-10 (kindergarten to class 10) verticals into a single business unit.