Report: Byju’s secures $50m to push total amount raised this year to $1.5b

“After mopping up over US$340 million last week from a clutch of investors, [Byju’s] has now raised another US$50 million from two new investors: India Infoline Finance Limited (IIFL) and Maitri Edtech,” Entrackr reported, citing regulatory filings.

Details:

• The Indian edtech titan allotted 12,750 series F preference shares at an issue price of 285,071.62 rupees each to raise the amount.
• Of the US$50 million total, IIFL contributed US$35 million while Maitri Edtech put in the remaining US$15 million.

Context:

• The development comes after Byju’s became the highest valued startup in India with an over US$16 billion valuation, following its US$342 million round from a group of investors including Fir Tree Partners, Asmaan Ventures, and Blackstone.
• The new funding also puts Byju’s total amount raised just this year to over US$1.5 billion.