Nearly two months after it raised $500 million, online education startup Byju’s is close to raising another $200 million in a fresh funding round from American investment firms BlackRock and T Rowe Price. With the investment, Byju's valuation may reach $12 billion.
The Bengaluru-based edtech firm had last raised $500 million in September from a group of investors including private equity firm Silver Lake Partners along with existing investors General Atlantic, Owl Ventures, and Tiger Global at a valuation of $10.8 billion, LiveMint reported.
Byju's acquires WhiteHat Jr in $300mn deal
BlackRock, Sands Capital, and Alkeon Capital also joined as new investors in the same round later, taking the startups valuation to $11.1 billion.
MoneyControl independently could not verify the report.
With these latest investments, the Bengaluru-based edtech firm has earned the decacorn status - startups that are valued at more than $10 billion.
Meanwhile, Byju's is also planning to go for an initial public offering (IPO), but its founder Byju Raveendran has said the timeline has not been decided as of yet.
Earlier in January 2020, Byju's raised a $200 million in equity funding from New York-based hedge fund Tiger Global Management, after which its valuation rose to around $8 billion.
Amid the COVID-19 pandemic-induced lockdown, Byju's has added over 25 million new students on its platform, which already has 73 million registered students and 5.1 million annual paid subscriptions.
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