Indian edtech major BYJU’s in talks for fresh $1b acquisition financing: Report

Online Education

Indian edtech decacorn BYJU’s, which has been on an acquisition spree, is in talks to raise $1 billion in fresh financing as it looks to further expand its operations inorganically.

The Bengaluru-based startup is in talks with banks including Morgan Stanley and JPMorgan Chase & Co for the financing to acquire another edtech company, The Economic Times reported. The details of the acquiree were not disclosed in the report.

BYJU’s was last valued at $22 billion reportedly after it raised $800 million in March this year led by its founder and CEO Byju Raveendran, who invested 50% of the amount. Sumeru Ventures, Vitruvian Partners and BlackRock also took part in the round.

When contacted by DealStreetAsia to seek more details on the fundraising, a BYJU’s spokesperson said, “no comments on speculation.”

The development comes a day after BYJU’s announced the acquisition of Singapore-based Northwest Executive Education, a provider of executive education programmes, for an undisclosed amount. BYJU’s had routed the acquisition through Great Learning, a Singapore-based edtech platform for upskilling, which it had acquired in July last year for $600 million in a cash, stock and earnout deal.

Since 2017, BYJU’s has completed more than 15 acquisitions, including companies in the US, UK, Austria, India and Singapore. The BYJU’s family of brands includes Disney-BYJU’S Early Learn, BYJU’S Future School, Epic!, Osmo, Tynker, Toppr and WhiteHat Jr.

Its other recent acquisitions include Jaipur headquartered cloud-based language learning startup Hello English and Austria-headquartered mathematics software provider GeoGebra.

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