Byju’s Becomes India’s Most-Valued Start-Up; Raises $340 Million At $16.5 Billion Valuation

Bengaluru-based ed-tech startup Byju's has raised about $340 million from a clutch of renowned investors like the UBS Group, Blackstone, Abu Dhabi's sovereign wealth fund ADQ, Phoenix Rising-Beacon Holdings and Zoom founder Eric Yuan, reports Economic Times.

The latest funding is said to be a part of $1.5 billion fundraising which the company had begun in April. In April, the company had raised more than $1 billion from notable investors like Baron Funds, Facebook co-founder Eduardo Saverin’s B Capital Group, and US-based hedge fund XN Exponent Holding.

In 2019, Byju's had raised a total of $533 million. Thereafter, in 2020, Byju's alone accounted for around $1 billion of the $2.2 billion raised by the entire set of Indian ed-tech startups.

Meanwhile, Byju's has also been on an acquisition spree lately, having acquired companies like Aakash Educational Services, WhiteHat Jr, Scholr, Osmo and Toppr. The closure of Toppr's acquisition is still to be announced. It is also said to be in talks with Gradeup and Great Learning.