Byju's to Secure $1.5 Bn; Valuation to Hit $21 Bn

By siliconindia  |  Monday, 16 August 2021, 09:55:51 AM IST

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Edtech major Byju’s is in discussion with several investors to raise $1-1.5 billion at a valuation of about $21 billion. Byju’s is India’s most valuable startup. The new valuation marks a 27 percent jump from the $16.5 billion valuation that it had attained after the funding round in June that saw investments from UBS Group, Blackstone, Abu Dhabi's ADQ, Zoom founder Eric Yuan's family office and Phoenix Rising - Beacon Holdings.

The fundraising is likely to be closed within a month, says the sources close to the advancement. The spurt in the edtech giant’s valuation is the resultant of the online learning boom amid pandemic lockdowns.

Not only has Byju Raveendran’s edtech company garnered generous fundings from investors; it has also turned as an acquisition spree. It procured Aakash Educational Services for $1 billion, Great Learning for $600 million, Epic for $500 million, Whodat for an undisclosed amount within months.

According to the sources at least four new large funds are predicted with a few existing investors too are expected to increase their stake in the company. The firm is also formulating its IPO plans, something that has excited investors, they said. However, Byju’s is yet to respond officially.

Raveendran had hinted at Byju’s initial public offering at an interview in April, when he said that the company will go for IPO in 18-24 months. While the company had been doing well earlier too, the past two years have boosted its growth pace. It added around 25 million users during this period.

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