Compared to this year, ed-tech startups raised $4.8 billion across 604 rounds in 2019. Despite the funding boom this year, there were only 377 rounds -- the lowest in four years -- indicating larger cheque sizes per startup, with winners raising an outsized portion of the total capital.
In this edition of Business Insight, find out how the Indian tech companies are attracting investors.
The company raised $500 million in the current funding round, which was led by Silver Lake, according to media reports.
Byju’s is allotting 42,666 Series F preference shares at an issue price of Rs 213,042.13 per share for a 1.2 per cent stake for DST Global
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Byju’s is currently the second-highest valued startup in India after payments firm Paytm. In June, it raised an undisclosed amount from US-based BOND Capital at a valuation of USD 10.5 billion.
WhiteHat Jr is India’s second largest ed-tech company at a revenue run rate of $150 Million.
A spokesperson for Byju’s clarifies that there is no liquidation preference or anti-dilution protection on any of the shares and so there is no difference between the primary and secondary shares. All the shares have the same value.
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Byju's is now the second-most most valuable startup in India after Paytm, which is valued at around $16 billion.
The sources added that BYJU'S has raised over $1.3 billion and the current round values it at about $8.2 billion.
At $8 billion, Byju’s is the most valued ed-tech firm in the world, and the third most-valued startup in India after Paytm and Oyo
The statement said BYJU'S launched a product for young learners (Grades 1-3) in 2019. It is also working on launching programmes in vernacular languages.
Think & Learn Pvt Ltd, the entity that runs BYJU'S, reduced its loss to Rs 8.82 crore in the fiscal ended March 2019 from a loss of Rs 37.15 crore in FY18, documents sourced by Paper.vc showed.
Move said to be driven by interest from limited partners and a fast-growing market
Earlier this month, Think & Learn, the parent firm of Byju's, bagged $150 million in funding. The deal placed the education app's value at $5.7 billion.
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The deal will be QIA's first direct investment in an Indian startup.
In June, Byju’s said it touched Rs 100 crore in monthly revenue and raised its annual revenue target for this year to Rs 1,400 crore
In July last year, Byju’s, run by Think and Learn Pvt, had raised about $40 million from Tencent, months after raising $30 million from Verlinvest
Funding in Indian ed-tech sector slid to USD 90 million in the first half of 2017, from USD 104 million in the same period of 2016.