Wednesday
July 13
2022

Byju’s Struggles to Close $800 Million Round in India

Online education provider Byju’s is struggling to close a funding round of $800 million as a global technology rout weighs on valuations. Investors including Sumeru Ventures and little-known firm Oxshott haven’t transferred about $250 million of the targeted amount because of “macroeconomic reasons”, a Byju’s spokeswoman said on Monday without elaborating. The two firms should come through by the end of August, she added. Founder Byju Raveendranhas completed an injection of about $400 million into the startup as part of the round, the spokeswoman said.

Photo courtesy of Siyavula Education.

Source: The Times of India (link opens in a new window)

Categories
Education, Investing, Technology
Tags
economic, EdTech, education, funding, small business, startups