It’s a busy 2020 for Byju’s – $545 million in funds so far, acquisitions and overseas expansion
- DST Global, which was founded by Israeli-Russian billionaire Yuri Milner, gets a 1.2% stake in the edutech decacorn.
- The funding comes after Byju’s raised $23 million from Mary Meeker’s BOND in late June.
- In 2020 alone, Byju’s has raised $545 million and has seen its valuation jump from $8 billion to $10.5 billion.
DST Global, which was founded by Israeli-Russian billionaire Yuri Milner, gets a 1.2% stake in the edutech decacorn. The fund had last invested in Swiggy and Udaan in 2016.
Meanwhile, in 2020 alone, Byju’s has raised $545 million and has seen its valuation jump from $8 billion to $10.5 billion. However, the valuation for the latest round continues to be the same as the last – $10.5 billion. Reports say that Byju’s might not be done and could raise more funds in the same round.
|Investment co.||Amount||Funding month in 2020|
|Tiger Global||$200 million||January|
|General Atlantic||$200 million||February|
|DST Global||$122 million||August|
2020 has been a busy year for the company. The Byju Raveendran-led startup, which recently acquired coding company White Hat Jr for $300 million, is also eyeing overseas expansion. Byju’s and White Hat Jr are gearing up for launch in six new countries– UK, Australia, New Zealand, Singapore, and Germany.
The coronavirus lockdown has boosted Byju's business, with schools shut, online learning quickly took over. The company has reaped the benefits of this online transition – it now has over 57 million students on its platform. The startup, which had doubled its revenue in FY20 to ₹2800 crore, also made money during lockdown with its April sales clocking ₹340 crores and May sales amounting to ₹370 crores.
Jeff Bezos becomes the first person on Earth to be worth more than $200 billion
Popular on BI
- Best budget 5GHz routers for faster speeds
- Naidu to chair virtual meeting with parties on RS agenda for budget session
- TRS MPs to meet on Sunday to chalk out party's strategy for Budget session of Parliament
- EXPLAINED: India’s annual Economic Survey
- With COVID expenses rising, taxpayers need more than an insurance rebate, says a wealth manager