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Edtech unicorn Byju's raises $800-M at $22-B valuation; founder infuses $400-M

Economic Times  

Bengaluru-based Edtech unicorn Byju's has raised USD 800 million with Founder and CEO Byju Raveendran infusing USD 400 million. The round, which comes ahead of its planned initial public offering (IPO), values the company at about USD 22 billion. Sumeru Ventures, Vitruvian Partners, and BlackRock were the other investors in the round. The promoter group - consisting of Raveendran, his wife Divya Gokulnath, some family members as well as top management and employees - will own about 29% stake following the round, up from 25% earlier. Byju's had raised about USD 300 million in October last year as part of its previous round that valued it at USD 18 billion. Oxshott Capital Partners, XN Exponent, Edelweiss, Verition Master Fund, IIFL and Time Capital Advisors had participated in that round. Byju's has raised over USD 2 billion since the onset of the Covid-19 pandemic, using most of the proceeds to acquire other ed-tech companies.