Bengaluru: Byju’s Founder and CEO Byju’s ravindraan made a personal investment of $400 million in the company. The investment is part of an $800 million round that includes investors Sumeru Ventures, Vitruvian Partners, and BlackRock. The edtech major is valued at $22 billion in this round.
Byju’s has raised nearly $2 billion since the pandemic, as online education soared. The previous funding round of $300 million in October had valued the firm at $18 billion. The $800 million check comes even as DeKorn plans to go public. Some media reports indicated that Byju’s was exploring the SPAC (Special Purpose Acquisition Company) route. SPACs, also known as blank-check companies, are shell companies that launch IPOs with a promise to invest in or acquire the company within a set time-frame – typically 18 to 24 months. SPACs have become extremely popular among investment firms and startups over the past two years.
“We are seeing rapid growth in India and international markets through both organic and inorganic routes. We aspire to create something that will last for decades,” said Raveendran.
He said that he has always believed that EdTech is one area where India has the potential to become a global champion by resolving the dimensionality of cost, quality and scale. “We will continue to invest in multiple learning models to provide quality education to students around the world,” he added. Byju’s made its 11th acquisition last year. In the US alone, it has made three acquisitions since 2019 at a total cost of $800 million. The Bengaluru-based company said it plans to invest another $1 billion in North America.
Byju’s has content for class 1 to 12 and for competitive exam aspirants.
Byju’s has raised nearly $2 billion since the pandemic, as online education soared. The previous funding round of $300 million in October had valued the firm at $18 billion. The $800 million check comes even as DeKorn plans to go public. Some media reports indicated that Byju’s was exploring the SPAC (Special Purpose Acquisition Company) route. SPACs, also known as blank-check companies, are shell companies that launch IPOs with a promise to invest in or acquire the company within a set time-frame – typically 18 to 24 months. SPACs have become extremely popular among investment firms and startups over the past two years.
“We are seeing rapid growth in India and international markets through both organic and inorganic routes. We aspire to create something that will last for decades,” said Raveendran.
He said that he has always believed that EdTech is one area where India has the potential to become a global champion by resolving the dimensionality of cost, quality and scale. “We will continue to invest in multiple learning models to provide quality education to students around the world,” he added. Byju’s made its 11th acquisition last year. In the US alone, it has made three acquisitions since 2019 at a total cost of $800 million. The Bengaluru-based company said it plans to invest another $1 billion in North America.
Byju’s has content for class 1 to 12 and for competitive exam aspirants.