Byju’s raises $800 mn; Byju Raveendran invests $400 mn

Edtech decacorn Byju’s has raised $800 million in a fresh funding round led by Sumeru Ventures, Vitruvian Partners, and BlackRock. Byju Raveendran, Founder & CEO of Byju’s, is also part of this fund-raise and has made a personal investment of $400 million. Sources privy to the development said that the valuation has touched $22 billion from $18 billion during the last funds raise.  The funding comes ahead of a mega IPO the company is planning in the US markets through a SPAC deal according to sources privy to the development.’

“We continue to witness accelerated growth in India and international markets through both organic and inorganic routes. Our sustained focus is on achieving our long-term goals around creating life-long value for our learners. For that, we are imagining and reimagining the way students will learn, unlearn and relearn in the future. Our aspiration is to build something that will last for decades,” Byju Raveendran, Founder & CEO, Byju’s, said.

“I have always believed that edtech is a sector where India has the potential to create global champions by solving the trilemma of cost, quality, and scale. We will continue to invest in multiple learning models to provide students with quality education across the world,” Raveendran added.

“As a leader in the edtech space, Byju's strong growth and expansion in national and international markets has been very promising.  We look forward to working with Byju's as it builds on and accelerates its compelling growth trajectory,” Mike Risman, Managing Partner of Vitruvian said.

The company’s valuation during the previous round stood at $18 billion in a Series F funding round, as per the company filings sourced from Tofler and raised more than $1.8 billion since 2020 (excluding the fresh $800 million investment).

The edtech platform claims to have more than 150 million learners  and an annual renewal rate of 86 per cent.