- Briefing Your roundup of Asian tech and startup news that matter
Doris Yu · · 1 min readIndia edtech unicorn Byju’s said to raise $200m from BlackRock, T. Rowe Price
The edtech startup could close the investment as early as the end of November and raise around US$200 million, a source said, adding that the company could be valued at US$12 billion in the round.
It comes after the Bengaluru-based company raised about US$500 million in a funding round led by Silver Lake, along with Tiger Global, General Atlantic, and Owl Ventures in September. Additional backers include the Chan Zuckerberg Initiative, Sequoia Capital India, Tencent, and Lightspeed Venture Partners, among others.
Byju’s claimed that it currently has over 64 million registered students and 4.2 million annual paid subscriptions. It has also doubled its revenue to US$381 million in FY 2019-2020 from US$195 million a year before.
See also: Edtech firm Byju’s keeps India focus as revenue growth triples
In India, the edtech market is expected to hit US$10.4 billion by 2025, growing by 3.7x from US$2.8 billion in 2020, according to Inc42. Byju’s is going up against local edtech player Unacademy, which recently secured US$150 million in a SoftBank-led round, valuing the startup at US$1.4 billion.
Edited by Collin Furtado and Jaclyn Teng
(And yes, we’re serious about ethics and transparency. More information here.)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
