If you're seeing this message, that means JavaScript has been disabled on your browser.Please enable JavaScript to make this website work.

NewsPremium

Sources: Byju’s to turn into the most valuable Indian startup after fresh fundraise

Briefing
Your roundup of Asian tech and startup news that matter

Miguel Cordon · 29 Apr 2021 · 1 min read

Sources: Byju’s to turn into the most valuable Indian startup after fresh fundraise

Add TIA as a preferred source

“Byju’s, India’s online education pioneer, is raising about US$150 million from UBS Group at a valuation of about US$16.5 billion. The funding will make it India’s most-valuable startup,” Bloomberg reported, citing sources familiar with the matter.

Details:

A UBS Asset Management entity, which is making the investment into Byju’s, is in talks to pour additional money into the edtech firm, which would take its total investment to roughly US$300 million.
Byju’s may also attract investment from an additional backer, which may bump its fresh raise up to US$400 million, said one source.

Context:

The development comes after Byju’s raised US$1 billion from investors such as Facebook co-founder Eduardo Saverin’s B Capital Group earlier this month.
Other existing backers in the company include Mark Zuckerberg’s Chan-Zuckerberg Initiative, Naspers, and Silver Lake Management.

Editing by Collin Furtado and Jaclyn Tiu

(And yes, we’re serious about ethics and transparency. More information here.)