byju:  Founder Puts $400mn In Byju’s $800mn Round | Bengaluru News - Times of India

byju: Founder Puts $400mn In Byju’s $800mn Round | Bengaluru News – Times of India


Bengaluru: Byju’s founder and CEO Byju Raveendran has made a personal investment of $400 million in the company. The investment is part of an $800-million round that includes investors Sumeru Ventures, Vitruvian Partners, and BlackRock. The round values the edtech major at $22 billion.
Byju’s has raised nearly $2 billion since the pandemic, as online education soared. The last funding round of $300 million in October had valued the firm at $18 billion. The $800-million cheque comes even as the decacorn plans to go public. Some media reports indicated that Byju’s is exploring the SPAC (special purpose acquisition company) route. SPACs, also known as blank-cheque companies, are shell companies that launch IPOs with a promise to invest in or acquire a company within a set timeline — normally 18 to 24 months. SPACs have become extremely popular among investment firms and startups over the past two years.
Raveendran said, “We continue to witness accelerated growth in India and international markets through both organic and inorganic routes. Our aspiration is to build something that will last for decades.”
He said he has always believed that edtech is a sector where India has the potential to create global champions by solving the trilemma of cost, quality and scale. “We will continue to invest in multiple learning models to provide students with quality education across the world,” he said.Byju’s made its 11th acquisition last year. In the US alone, it has made three acquisitions since 2019 at a total cost of $800 million. The Bengaluru-based company has said it plans to invest another $1 billion in North America.
Byju’s has content for classes 1 to 12, and for competitive exam aspirants.


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