Tuesday
March 15
2022

Byju’s CEO Byju Raveendran Pumps 50% Of $800 Million in Latest Fundraise

The company has raised fresh funds at an enterprise value of $22 billion, which has increased by about 22 percent from the last disclosed valuation of $18 billion.

Edtech firm Byju’s on Friday said it has raised $800 million (about Rs 6,000 crore) in a funding round led by its founder and CEO Byju Raveendran, contributing half of the total amount.

Sumeru Ventures, Vitruvian Partners and BlackRock also participated in the funding round.

The company has raised fresh funds at an enterprise value of $22 billion, which has increased by about 22 percent from the last disclosed valuation of USD 18 billion.

The investment comes at a time when the company is gearing to come up with its initial public offer in the next 9-12 months.

“Byju Raveendran, Founder and CEO of Byju’s, is also part of this fund-raise and has made a personal investment of USD 400 million,” the company said in a statement.

Photo courtesy of Alireza Attari.

Source: Firstpost (link opens in a new window)

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Technology
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accelerators, EdTech, education, funding, social impact, technology