BlackRock, Sands Capital Lead $300-Million Investment in Byju’s

Christel Deskins

(Bloomberg) — India’s online education startup Byju’s raised funding from BlackRock Inc., Sands Capital and Alkeon Capital, as the company expands to meet growing demand for its services. The round totaled about $300 million and values Byju’s at about $11 billion, according to a person familiar with the matter. Existing […]

(Bloomberg) — India’s online education startup Byju’s raised funding from BlackRock Inc., Sands Capital and Alkeon Capital, as the company expands to meet growing demand for its services.

The round totaled about $300 million and values Byju’s at about $11 billion, according to a person familiar with the matter. Existing backers Tiger Global, General Atlantic and Owl Ventures also invested, the company said, while private equity giant Silver Lake put money into the startup earlier this month.



a man smiling for the camera: Byju Operations And Interview With The Edu-tech Startup CEO Byju Raveendran


© Bloomberg
Byju Operations And Interview With The Edu-tech Startup CEO Byju Raveendran

Byju Raveendran in 2017.

Loading...

Load Error

Photographer: Dhiraj Singh/Bloomberg

Investors are increasing support for India’s edtech startups as the country’s pandemic challenge spreads and closes schools. Byju’s was founded by Byju Raveendran, a former teacher and son of educators, who conceived the smartphone app in 2011.

Read more: Billionaire Milner Nears $400 Million Funding in Byju’s

The company, whose investors also include Facebook founder Mark Zuckerberg’s Chan Zuckerberg Initiative, caters to students from kindergarten through 12th grade and has over 70 million registered users and over 4.5 million paid subscribers. It aims to simplify math and science concepts for students through games and videos.

With the coronavirus pandemic, parents, teachers and schools have been forced to adopt digital learning tools. Byju’s rivals are also gathering backers: online learning startup Vedantu raised $100 million from U.S.-based investor Coatue Management, while SoftBank Group Corp.’s Vision Fund is said to be leading a funding round that values Unacademy at $1.45 billion.

Read more: SoftBank Invests in India’s Unacademy at $1.45 Billion Valuation

For more articles like this, please visit us at bloomberg.com

©2020 Bloomberg L.P.

Continue Reading
Next Post

FDA establishes health innovation center, says 'most cutting-edge digital health technologies' should come out of US

Katie Adams – Tuesday, September 22nd, 2020 Print  | Email The FDA launched its Digital Health Center of Excellence Sept. 22 to foster healthcare innovation research and create strategic initiatives for digital health technologies. The newly launched center, a part of the FDA’s Center for Devices and Radiological Health, will provide […]