Indian edtech startup BYJU’S may be worth $15 billion in another week
- BYJU’S, which is already the world’s most valued edtech company, is in talks to raise as much as $700 million in another funding round.
- The latest news comes as BYJU’S has already raised $1.2 billion in 2020, and the company’s last reported valuation was $12 billion.
- BYJU’S is reportedly going to use the funds for further acquisitions.
AdvertisementBengaluru-based edtech startup BYJU’S, which is already the world’s most valued edtech company, is in talks to raise as much as $700 million in another funding round. The investment will be led by investors in the US and the Middle East.
The development was first reported by Entrackr.
The latest news comes as BYJU’S has already raised $1.2 billion in 2020, and the company’s last reported valuation was $12 billion.
|Investment co.||Amount||Funding in 2020|
|Tiger Global||$200 million||January|
|General Atlantic||$200 million||February|
|DST Global||$122 million||August|
|Silver Lake||$500 million||September|
|T Rowe, BlockRock||$200 million||November|
BYJU’S is reportedly going to use the funds for further acquisitions. The 10-year old company, founded by Byju Raveendran, is set to acquire offline coaching institute Aakash Educational Services for a whopping $1 billion. If the deal goes through, it will become one of the biggest edtech deals in the world.
While BYJU'S hasn’t made any comments on the matter, Aakash Educational Services Limited (AESL) had confirmed that it is in talks with Byju's for building a strong partnership. "Putting these speculations to rest, we would like to state that AESL is on a mission to build India's largest digitally-enabled, omni-channel education company. We will accelerate our digital transformation and deliver phenomenal value to our students. We will rapidly expand our omni channel & digital offerings, as we embark on the next trajectory of quality education & growth," the company had said in January.
BYJU’S claims to have as many as 80 million users and 5.5 million annual paid subscriptions.
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