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Byju’s raises funds at $18 billion valuation from Edelweiss, IIFL, others

At $18 billion, Byju’s continues to be India’s most valued private internet company, taking the crown from fintech firm Paytm, which was valued at $16 billion and is now looking to go public.

October 04, 2021 / 03:03 PM IST
(Source: ShutterStock)

(Source: ShutterStock)

Online education firm Byju’s has raised Rs 2,200 crore or about $300 million from investors, valuing it at about $18 billion, continuing its fundraising spree, regulatory filings indicated.

Investors in the round include Edelweiss and IIFL- generally stock market investors and advisory firms in India, along with Oxshott Venture Fund, Verition Master Fund, XN Exponent Holdings, and others, according to documents accessed via Tofler.

Byju’s issued 77,174 shares to these investors, with Oxshott alone buying over 40,000 shares, at a share price of Rs 2,85,062

At $18 billion, Byju’s continues to be India’s most valued private internet company, taking the crown from fintech firm Paytm, which was valued at $16 billion and is now looking to go public. Byju’s was valued at $16.5 billion earlier this year when it raised $350 million from UBS, Blackstone, and others.

Byju’s has been raising unprecedented sums of money over the last 18 months, spending nearly all of it on acquisitions- worth over $3 billion so far. Its largest acquisitions include offline test prep firm Aakash, Great Learning, Osmo, and Tynker (Byju's Buys US-based Coding Platform Tynker, Its 9th Acquisition This Year)

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Founder and CEO Byju Raveendran also plans to take the company public in the next 18 months or so, he has said in previous interviews. Online education in India has been turbocharged by the pandemic, and investments are also being accelerated by China’s crackdown on technology, driving more investors to India and other markets, Raveendran said earlier.
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first published: Oct 4, 2021 02:59 pm

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