About Byju’s
BYJU‘S is an educational technology company with a global presence, offering customized and captivating learning solutions to a vast audience of over 150 million students from various corners of the world.
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Established in India in 2011, BYJU‘S is dedicated to democratizing first-rate education by providing unparalleled learning experiences that cater to the needs of students worldwide.
Recent News about its Funding
According to undisclosed sources, BYJU‘S, a prominent edtech company, is reportedly concluding a funding round worth $700 million, maintaining a valuation of $22 billion.
As per a reliable source, the funding round has been structured into two distinct deals, notably one equity round and one convertible note round. The due-diligence process for this funding initiative has already been concluded.
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It is anticipated that roughly $400-500 million from this fundraise will be allocated towards debt payments.
At present, BYJU’S investor Blackrock has reduced the company’s valuation to $11.5 billion. Prosus has also valued the company at $6 billion in November 2022. Nevertheless, BYJU‘s last funding round was raised at a valuation of $22 billion. Also read about Alibaba and its Group of 6 Business
New CFO of Byju’s
BYJU’S has just appointed a fresh new face as their CFO – none other than Ajay Goel, a seasoned executive with over two decades of experience delivering exceptional financial and operational results to world-renowned companies like GE, Coca Cola and Nestle.
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And that’s not all. In the midst of financial scrutiny amid delays in filing their financials, BYJU’S is boldly shifting their focus towards profitability.
““BYJU’S is working very hard to achieve profitability at the group level in the coming year itself,” exclaimed CEO Byju Raveendran in an email that’s sending shockwaves through the industry. In fact, they’ve just announced a whopping 2,500 layoffs across the group in their quest for financial triumph. Learn about Nykaa and its future aim at The Success Story of Nykaa: India’s Premier Beauty Retail Platform.”
Current Investment and Acquisition of Byju’s
Byju‘s has invested a substantial sum of $2.8 billion in multiple acquisitions to broaden its scope beyond the initial learning app and integrate its offerings to cater to learners across all age groups. Its foray into exam preparation, higher education MOOCs, and tuition centers are examples of this expansion.
Moreover, the company has also acquired various platforms providing educational gaming, virtual reality, and artificial intelligence services, predominantly during the current year.
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Byju’s Subsidiaries
- Osmo
- TutorVista (Rebranded as iRobot Tutor TV STEM)
- HashLearn
- WhiteHat Jr
- LabInApp
- Scholr
- Aakash Institute
- Toppr
- Whodat
- Tynker
- Epic!
- Great Learning
- Superset
- GradeUp (Rebranded as Byju’s Exam Prep)
- GeoGebra
Recent Financial Investments
Byju‘s, the Indian edtech unicorn, secured a lucrative sponsorship deal with the football club Kerala Blasters FC, replacing Muthoot Group as the title sponsor in November 2020. The same year, Byju’s raised a substantial amount of $200 million in a funding round led by BlackRock and T. Rowe Price, resulting in a valuation of $12 billion.
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By March 2021, the company successfully secured $460 million in a series F funding round, followed by $1 billion through investments from B Capital, Baron Funds, and XN in April 2021. In June 2021, Byju’s went on to raise $50 million in a Series F round from IIFL’s private equity fund and Maitri Edtech.
The company once again raised a whopping amount of $296 million as a part of its Series F round from Oxshott Venture Fund, Edelweiss Group, Verition Fund, XN Exponent Holdings, and MarketX Ventures in October 2021.
By March 2022, the company raised a massive $800 million from Byju Raveendran, Sumeru Ventures, Vitruvian Partners, and BlackRock. Adding to its list of accolades, Byju’s was named one of the official sponsors of the 2022 FIFA World Cup in March 2022.
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