Indian edtech firm Byju’s in talks to raise $200m at $12b valuation

Byju’s founder Byju Raveendran. Photo: Mint

Online education startup Byju’s is close to raising $200 million in a fresh funding round from American investment firms BlackRock and T. Rowe Price at a valuation of $12 billion, said a person familiar with the matter.

The Bengaluru-based edtech firm had last raised $500 million in September from a group of investors including private equity firm Silver Lake Partners along with existing investors General Atlantic, Owl Ventures and Tiger Global at a valuation of $10.8 billion.

BlackRock, Sands Capital and Alkeon Capital joined as new investors, as part of the same round later, with valuation climbing to $11.1 billion.

A Byju’s spokesperson didn’t respond to queries.

BlackRock and T. Rowe Price couldn’t be immediately reached.

The surge in investor interest also catapulted Byju’s into India’s second-most valuable startup, also earning it the decacorn status—the handful of startups that are valued at more than $10 billion.

“Byju’s is not only eyeing international expansion actively but also looking at strategic inorganic growth,” said a second person, requesting not be named.

Byju’s was valued at around $8 billion in January when it raised $200 million in equity funding from New York-based hedge fund Tiger Global Management. That round had elevated Byju’s valuation by 45%. Since then, Byju’s valuation has increased by a further 35%. It had turned into a unicorn in late 2017 when it raised money from a group of investors, led by China’s Tencent.

This article was first published on livemint.com.

Singapore Reporter/s

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Following vacancies can be applied for (only in Singapore).   

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  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.