Companies

Byju’s raises $50 million as a part of its Series F funding round

Our Bureau Bengaluru | Updated on June 22, 2021

Raised capital to drive acquisition plans

Byju’s the world’s leading edtech company has raised $50 million in a Series F funding round from investors. The company has been raising funding in tranches as a part of its Series F investments over the last 12 months.

According to regulatory filings the funding was raised from IIFL and Maitri Edtech. The former invested $35 million and the latter invested $15 million.

This latest round comes a week after Byju’s raised around $340 million from investors including UBS Group, Blackstone, Abu Dhabi State Fund – ADQ, Zoom founder Eric Yuan and Phoenix Rising – Beacon Holdings, which valued the company at $16.5 billion, making it the country’s most valued start-up, beating Paytm which is valued at $16 billion.

The capital raised is expected to drive its aggressive acquisition plans. Byju’S has so far acquired eight companies including Vidyartha, Tutorvista and Edurite in 2017, Math Adventures in 2018, Osmo in 2019, WhiteHat Jr andLabInApp in 2020 and more recently, Aakash Educational Services in April for $940 million. The company has two more acquisitions in the pipeline – Bengaluru based, Great Learning and Noida based, Gradeup.

Published on June 22, 2021

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