Private Equity Fund Investments
Edtech unicorn Byju's raises Rs.363-Cr from IIFL, Maitri Edtech
Bengaluru-based education technology company Byju's has raised INR 363.45 crore (about USD 50 million) in funding from Maitri Edtech and IIFL. The investment is part of the company's ongoing Series F financial round, taking the total size of the round to more than USD 1.5 billion. The latest funding closely follows the USD 350 million investment by UBS Group, Blackstone, Abu Dhabi state fund ADQ, Phoenix Rising and Zoom founder & CEO Eric Yuan into the company, making it the most-valued Indian start-up Unicorn worth about USD 16.5 Billion. The bulk of the fresh capital will be used to fund acquisitions that Byju's has lined up, including Aakash Educational Services. Byju's is also reportedly close to acquiring rival Toppr in a transaction estimated to be over USD 100 million and is in talks to acquire other related businesses including Great Learning and Gradeup.
From the Venture Intelligence PE-VC Deal Database: Between Nov-12 and Jun-21, Byju's had raised over $2,800-M from ADQ, Blackstone, Footpath Ventures, B Capital Group, Bond Capital, Owl Ventures, Sands Capital, DST Global, Silver Lake, Tiger Global, General Atlantic, QIA, Prosus Ventures, CPPIB, Tencent, Sofina, Lightspeed Ventures, IFC, Verlinvest, Sequoia Capital India, Aarin Capital and others. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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