Fresh funding round values Byju’s at $10.5 billion
4 years, 4 months ago

Fresh funding round values Byju’s at $10.5 billion

Live Mint  

DST Global, the late-stage venture capital fund backed by Israeli-Russian billionaire Yuri Milner, is in advanced talks to invest around $400 million in online education platform Byju’s, said two people aware of the talks. Bengaluru-based Byju’s will look to raise an additional $200 million from existing investors apart from DST in the ongoing round, said one of the two people cited above, who is aware of the fundraising plans. The edtech startup last raised around $100 million from Bond Capital, a global technology investment firm co-founded by Mary Meeker, and $200 million from Tiger Global in January, when it was valued at $8 billion. Since its launch in 2011, Byju’s has raised over $1 billion from Naspers Ltd, Tencent Holdings Ltd, Verlinvest Group SA, Chan Zuckerberg Initiative, Sequoia Capital India, Lightspeed India Partners, and General Atlantic, among others.

Global Startup Round Billion Million Edtech Dst Dst Global  dst  round  valued  capital  billion  edtech  fresh  global  funding  startup  raised  million  values  byjus  105

History of this topic

IIT-B incubator to start ₹100 crore VC fund
1 month ago

IIT-B incubator to start ₹100 crore VC fund

Hindustan Times  

Mumbai: The Society for Innovation and Entrepreneurship, the business incubator at Indian Institute of Technology Bombay, is planning to start a ₹100-crore venture capital fund focused on deep-tech startups in critical areas like science, biotechnology, space and defense. IIT-B incubator to start ₹ 100 crore VC fund The ambitious expansion plan builds on SINE’s two-decade long track record in nurturing …

Delhi Techie Offers to Sell JioHotstar Domain to Streaming Giants
1 month, 4 weeks ago

Delhi Techie Offers to Sell JioHotstar Domain to Streaming Giants

Live Mint  

Delhi-based app developer offers to sell the JioHotstar domain name to either Reliance Industries (RIL) or Viacom18 for a fee. The techie, who is currently pursuing his goal of studying at Cambridge University, hypothesizes that the company would likely follow the same rebranding process with Hotstar, potentially renaming it to JioHotstar. The app developer, motivated by the exposure to the …

Oyo founder Ritesh Agarwal invests Rs 830 crore in funding round, valuation drops to $2.4 billion
4 months, 1 week ago

Oyo founder Ritesh Agarwal invests Rs 830 crore in funding round, valuation drops to $2.4 billion

New Indian Express  

BENGALURU: Hospitality chain Oyo's founder Ritesh Agarwal has invested Rs 830 crore in the company's latest funding round through Singapore-based entity Patient Capital. The first tranche of funding of Rs 416.85 crore was led by Incred Wealth in July 2024. An additional fund raise of Rs 1047 crore was approved by shareholders of the company on August 8 in an …

Indian Tech Startups Raise $4.1 Billion In First Half Of 2024, Secure 4th Place Globally: Study
6 months ago

Indian Tech Startups Raise $4.1 Billion In First Half Of 2024, Secure 4th Place Globally: Study

ABP News  

Indian tech start-ups secured $4.1 billion in funding in the first half of 2024, a 4 per cent increase from $3.96 billion in the second half of 2023. According to Tracxn, a market intelligence platform, India ranks as the fourth-highest funded country globally in the tech startup landscape, with the US, UK, and China leading in overall funding volumes. Seed-stage …

Does the collapse of Byju’s mean the end of edtech?
10 months, 2 weeks ago

Does the collapse of Byju’s mean the end of edtech?

Live Mint  

Edtech giant Byju’s is struggling to meet salary and vendor payments. Claimed to be India’s first edtech unicorn, with valuation at its peak around March 2022, the company is now struggling to pay salaries. The issue, set to stay open for 30 days, suggests a stark reassessment of Byju's valuation of $22 billion as the company is willing to issue …

Byju's crisis explained: Why edtech firm, once valued at $22 bn, is witnessing financial downfall
10 months, 2 weeks ago

Byju's crisis explained: Why edtech firm, once valued at $22 bn, is witnessing financial downfall

Hindustan Times  

Ed-tech company Byju's has been grappling with a financial crisis, and in their latest move, the shareholders of the company have moved a resolution seeking the ouster of the founders from top leadership roles, including CEO Byju Raveendran. US-based investment firm Redwood cut a loan of $1.2 billion to Byju's in November 2021, but the ed-tech firm failed to make …

Once a unicorn, Byju's slashes valuation by 90% to raise funds as it files financials after 22-month gap
11 months ago

Once a unicorn, Byju's slashes valuation by 90% to raise funds as it files financials after 22-month gap

Firstpost  

Byju’s, a beleaguered edtech startup, is going to slash valuation by more than 90 per cent from its previous round to raise fresh funds and alleviate its financial troubles. Once counted among the world’s most valuable startups, Byju’s is seeking more than $100 million from existing investors through a fresh issuance of shares scheduled for February 2024, at a price …

BlackRock slashes Byju’s valuation to $1 billion, down 95%, says report
11 months, 1 week ago

BlackRock slashes Byju’s valuation to $1 billion, down 95%, says report

Live Mint  

Asset manager BlackRock has once again reduced its valuation of Indian ed-tech unicorn Byju’s, this time by around 95 percent from $22 billion to $1 billion, as per a Tech Crunch report citing company disclosures. Reversal of Fortune This valuation markdown represents a significant reversal of fortune for Byju’s, once considered the poster child of the Indian start-up ecosystem. Despite …

Indian startups witness 65.8% drop in funding between Jan-Nov 2023: GlobalData
1 year ago

Indian startups witness 65.8% drop in funding between Jan-Nov 2023: GlobalData

Live Mint  

Indian startups witnessed a 65.8% drop in funding in terms of value between January and November 2023, according to a report by Times of India. Citing data from GlobalData, Indian startups raised $6.9 billion across 1,013 venture capital funding deals in the past 11 months this year. Among the top VC funding deals in Indian startups this year were- $250 …

Byju’s targets to be profitable by March 2024, may layoff 3,000-3,500 workforce
1 year, 2 months ago

Byju’s targets to be profitable by March 2024, may layoff 3,000-3,500 workforce

Live Mint  

On account of consolidation and restructuring of the organization and settlement on a $1.2 billion loan, edtech major BYJU'S has set the target to become profitable by March 2024, reported news agency PTI citing sources. "Think and Learn Private Ltd restructuring will see the current operations spread across several business units streamlined into four core areas of K-12, test prep, …

Prosus slashes Byju’s valuation to $5 billion: Report
1 year, 5 months ago

Prosus slashes Byju’s valuation to $5 billion: Report

Live Mint  

Dutch-listed technology investor Prosus NV has slashed the valuation of Indian edtech startup Byju's to $5.1 billion, according to a TechCrunch report. Prosus had downsized the value of its 9.6 per cent stake in Byju's to around $493 million in the financial year ended March 31, the report added. Byju's is caught in what many see as a governance crisis …

Byju’s Supernova Moment: End of Star Trek For The Indian EdTech Giant?
1 year, 5 months ago

Byju’s Supernova Moment: End of Star Trek For The Indian EdTech Giant?

The Quint  

India’s edtech juggernaut Byju’s appears to be in serious trouble. Ever since its meteoric rise in mid-2020, I have, like others who have more than a passing interest in India’s education space, been stunned by the developments. Along the way, as the Byju’s phenomenon gained momentum, investors and lenders appeared to jump in some kind of frenzy, possibly more out …

Byju's ED Raid: CEO Byju Raveendran Says Company In Compliance, Brought More FDI Than Any Other Startup
1 year, 7 months ago

Byju's ED Raid: CEO Byju Raveendran Says Company In Compliance, Brought More FDI Than Any Other Startup

News 18  

After financial crime-fighting agency ED searched Byju’s premises, the education platform’s CEO Byju Raveendran wrote to employees saying the company brought more FDI to India than any other startup and that the firm fully complies with all applicable foreign exchange laws. “As we are funded by 70+ impact investors who have satisfactorily done due diligence on our operations, including all …

Indian edtech sector still attractive for investors: GSV Ventures
1 year, 10 months ago

Indian edtech sector still attractive for investors: GSV Ventures

Live Mint  

India is still one of the world's most exciting markets for education technology investors, says venture capital firm GSV Ventures, sounding an upbeat tone for a sector still reeling from massive layoffs and a funding crunch. These are very early days for the Indian edtech market," Deborah Quazzo, managing partner at GSV, told Reuters on the sidelines of the Emeritus-GSV …

Byju’s in funding talks with TPG, sovereign funds as debt weighs
1 year, 10 months ago

Byju’s in funding talks with TPG, sovereign funds as debt weighs

Live Mint  

Byju’s is in negotiations with investors including TPG to raise more than $500 million, a much-needed capital infusion that could help the world’s most valuable edtech startup stave off potential debt issues. Several investment firms including TPG and two Middle Eastern sovereign wealth funds have begun due diligence on the Indian company, which is hoping to keep its valuation steady …

Byju’s founder Raveendran raising funds to raise his stake in firm
1 year, 11 months ago

Byju’s founder Raveendran raising funds to raise his stake in firm

Live Mint  

Byju Raveendran, the founder of the world’s most valuable edtech startup Byju’s, is in financing talks to lift his stake in the company to as high as 40%, people familiar with the matter said. Byju’s was valued at $22 billion the last time it raised funds, though the buyback may happen at a lower valuation, the people said, asking not …

Byju’s finalising plans for ₹8,000 crore IPO of Aakash Educational Services
2 years, 1 month ago

Byju’s finalising plans for ₹8,000 crore IPO of Aakash Educational Services

Live Mint  

India’s most valuable startup, online-education giant Byju’s, is finalizing plans for a $1 billion initial public offering of its tutoring business Aakash Educational Services, according to people familiar with the matter. The company is in talks with at least four foreign banks -- JPMorgan Chase & Co., Citigroup Inc., Goldman Sachs Group Inc. and Morgan Stanley -- as well as …

Byju Raveendran pens emotional farewell note to sacked staff
2 years, 1 month ago

Byju Raveendran pens emotional farewell note to sacked staff

Live Mint  

Edtech unicorn Byju’s founder sought forgiveness from the 2,500 employees who are in the process of being fired by the edtech, as it pursues a plan to achieve profitability by the end of FY23. We are having to part ways with 2500 of our colleagues,” chief executive and founder Byju Raveendran wrote in an internal letter to employees on Monday. …

Edtech Firm Byju's Takes Rs 300 Crore Unsecured Loan From Aakash At A Rate Of 7.5 Per Cent
2 years, 1 month ago

Edtech Firm Byju's Takes Rs 300 Crore Unsecured Loan From Aakash At A Rate Of 7.5 Per Cent

ABP News  

Byju's, the world’s most-valued edtech firm has taken an unsecured loan of Rs 300 crore from Aakash Educational Services for its “principal business activities,” according to a report by Moneycontrol. “The board of directors of the company, in their meeting held on October 3, subject to the approval of members in general meeting, has given their approval for granting unsecured …

Byju’s raises $250 mn through rights issue
2 years, 2 months ago

Byju’s raises $250 mn through rights issue

Live Mint  

Edtech major Byju’s has raised $250 million in a rights issue from its existing investors at a $22 billion valuation. Continued support from our esteemed investors re-affirms the impact created by us so far, and validates our path to profitability,” said Byju Raveendran, founder and chief executive of Byju’s. Besides these two, the Bengaluru-headquartered company is backed by Chan-Zuckerberg Initiative, …

Byju’s shifts focus to profitable growth: CEO to employees
2 years, 3 months ago

Byju’s shifts focus to profitable growth: CEO to employees

Live Mint  

Days after reporting a loss of ₹4,564 crore in the 2021 fiscal, Byju's founder and CEO has told employees that India's most valuable startup has already started shifting focus toward profitable growth and revenue of USD 2 billion was within its sights. Byju Raveendran said the education provider clocked more than ₹1,000 crore in sales in each of the last …

India’s startup valuation race mustn’t be reckless
2 years, 3 months ago

India’s startup valuation race mustn’t be reckless

Live Mint  

There is a popular saying that a crisis is all you need to separate the strong from the weak. The economic crisis in the form of rising interest rates and shrinking systemic liquidity is taking its toll on tech startups which have been nourished on years of easy money and tidal waves of overseas investments in the form of private …

Byju's May Raise $500 Million in Fresh Round of Funding Within a Week in Efforts to go Global
2 years, 3 months ago

Byju's May Raise $500 Million in Fresh Round of Funding Within a Week in Efforts to go Global

News 18  

Edtech firm Byju’s plans to raise Rs 3900 crore, which is roughly equal to $500 million in a fresh round of funding within a week, a report quoting sources privy to the development has said. The other overseas acquisitions of Byju’s include Singapore-based Great Learning for around $200 million and Austria’s mathematics operator GeoGebdra for approximately $100 million. Byju’s is …

Startup Funding Declines 33% Quarterly To $6.9 billion During April-June 2022
2 years, 5 months ago

Startup Funding Declines 33% Quarterly To $6.9 billion During April-June 2022

News 18  

Indian startups raised $6.9 billion in 409 funding rounds during April-June 2022, which was down by 33 per cent as compared with $10.3 billion mopped up in the previous quarter. Through this report, we aim to give industry stakeholders key insights into the ecosystem that would help in business decision making backed by extensive market intelligence and thorough research and …

Why is Byju’s laying off employees and delaying payments?
2 years, 5 months ago

Why is Byju’s laying off employees and delaying payments?

Live Mint  

Bengaluru-based largest ed-tech company, Byju's, is in news for two very different reasons in two different countries. India's $22 billion firm is making headlines in India for joining the layoff bandwagon by announcing the termination of 500 employees in WhiteHat Jr, 1,100 in Toppr and reports suggest the number may be as high as 2500 across its group of companies. …

Byju's in talks to acquire Chegg or 2U, Evaluating US-Based Firms' Financials; Know More
2 years, 7 months ago

Byju's in talks to acquire Chegg or 2U, Evaluating US-Based Firms' Financials; Know More

News 18  

Edtech major Byju’s is in talks with US-based edtech firms companies, Chegg and 2U, to acquire either of them, according to a Bloomberg report. As part of its domestic expansion, Byju’s last year in April had acquired test-prep leader Aakash Educational Services for nearly USD 1 billion to build the start-up’s position in the brick and mortar segment. Later, in …

SoftBank-Backed Fintech Start-Up Open Becomes India's 100th Unicorn With Fresh Funding
2 years, 7 months ago

SoftBank-Backed Fintech Start-Up Open Becomes India's 100th Unicorn With Fresh Funding

ABP News  

New Delhi: Open, a neobanking fintech portal, became unicorn on Monday after it raised fresh capital which pushed up its value over a billion dollars. 🥳 But before that here's the #Unicorn🧵summarizing our journey so far👇 pic.twitter.com/FsfSOpK5Bp — Open Money May 2, 2022 According to news reports, in a Series D funding round, the five-year-old neobank raised $50 million from …

Indian startups raised record USD 24.1 billion in 2021, reports Nasscom
2 years, 11 months ago

Indian startups raised record USD 24.1 billion in 2021, reports Nasscom

New Indian Express  

NEW DELHI: Indian startups raised a record $24.1 billion in 2021, a two-fold increase over pre-Covid levels, while $6 billion were raised via public markets with 11 startup IPOs, a new Nasscom report said on Friday.The Indian tech startup base continues to witness steady growth, adding over 2250 startups in 2021, which is 600 more than 2020. India, accounting for …

BYJU’s To Raise $1.2 billion Through Term Loan B Funding; Know Details Here
3 years, 1 month ago

BYJU’s To Raise $1.2 billion Through Term Loan B Funding; Know Details Here

News 18  

BYJU’s, the world’s most valuable ed-tech start-up, currently at $18 billion, is in talks to raise $1.2 billion through a Term Loan B funding. A Term Loan B is funding sourced from global institutional investors that can foster a longer-term investment horizon than traditional banks. The acquiring drive of the company includes coding platform WhiteHat Jr., offline competitive exam preparation …

Byju's in talks to raise up to $1.5 billion after acquisition spree
3 years, 4 months ago

Byju's in talks to raise up to $1.5 billion after acquisition spree

India Today  

India’s leading edtech company Byju’s is in talks with several investors to raise approximately $1-$1.5 billion at a valuation of nearly $21 billion. The online tutoring company, which is the country’s most valuable startup, is reportedly seeking a 27 per cent jump from the earlier valuation of $16.5 billion, at which the company raised funds in June. In the past …

Byju's is Acquiring Aakash Education Services for $800 mn in One of the Largest Deals in EdTech
3 years, 8 months ago

Byju's is Acquiring Aakash Education Services for $800 mn in One of the Largest Deals in EdTech

News 18  

Edtech startup Byju’s is acquiring Blackstone Group-backed Aakash Educational Services in an estimated USD 800- million cash-and-stock deal. According to a report by Economic Times, after the transaction, Blackstone Group and Aakash Institute’s founders will hold a minority stake in Byju’s at a valuation of about USD 13 billion “We will integrate Aakash’s expertise in test prep with our content …

Edtech Unicorn Byju's to Acquire Rival Toppr for $150 Million: Reports
3 years, 10 months ago

Edtech Unicorn Byju's to Acquire Rival Toppr for $150 Million: Reports

News 18  

India’s largest edtech startup Byju’s is in late-stage talks to acquire its rival Toppr for roughly $150 million, according to reports. The report further quoted sources as saying that Toppr was seen a formidable rival by Byju’s, and the acquisition will bolster the latter’s position in the edtech space. Ever since online education was moved almost exclusively online, Byju’s has …

Indian startups attracted $10.14 billion in funding in 2020 despite the COVID-19 pandemic
3 years, 10 months ago

Indian startups attracted $10.14 billion in funding in 2020 despite the COVID-19 pandemic

Firstpost  

Indian startups are estimated to have received $10.14 billion in funding across more than 1,200 deals in 2020 despite the COVID crisis, a report by consulting firm HexGn said. “Weathering negative sentiment, seed stage investment deals grew by 50 percent from $353 million over 420 deals in 2019 to $372 million over 672 deals in 2020. The report said Bengaluru, …

Indian Startups Received $10.14 Billion in Funding in 2020; E-Commerce, Edtech Biggest Gainers: Report
3 years, 10 months ago

Indian Startups Received $10.14 Billion in Funding in 2020; E-Commerce, Edtech Biggest Gainers: Report

News 18  

Indian startups are estimated to have received USD 10.14 billion in funding across more than 1,200 deals in 2020 despite the Covid-19 crisis, a report by consulting firm HexGn said. Even though the total investment received in 2020 is lower than that of 2019, the number of deals were higher by 20 per cent, the report said. “Weathering negative sentiment, …

Byju's to acquire Blackstone-backed Aakash Educational Services for $1 billion
3 years, 11 months ago

Byju's to acquire Blackstone-backed Aakash Educational Services for $1 billion

India Today  

India’s biggest online-education startup Byju’s has signed a deal to acquire Blackstone-backed Aakash Educational Services for $1 billion, reported Bloomberg quoting people familiar with the matter. With more than 200 physical centres across the country, Aakash Institutes preps students across the country to gain entry into India’s elite engineering colleges and medical schools. Read | 4 budding edtech platforms creating …

Byju's to Acquire Testprep Firm Aakash Educational Services for $1 Billion: Report
3 years, 11 months ago

Byju's to Acquire Testprep Firm Aakash Educational Services for $1 Billion: Report

News 18  

Edu-tech major Byju’s has signed a deal with test preparation company Aakash Educational Services Ltd for $1 billion, according to reports. Byju’s is valued at $12 billion and has raised significant capital amid growing demand for online learning amid the covid-19 pandemic. The Bengaluru-based startup is backed by Facebook founder Mark Zuckerberg’s Chan Zuckerberg Initiative, Tiger Global Management and Bond …

Indian edtech startups received over $2.22 billion funding in 2020 as compared to $553 million in 2019
4 years ago

Indian edtech startups received over $2.22 billion funding in 2020 as compared to $553 million in 2019

Firstpost  

The report states that the Indian subcontinent is one of the largest markets for education with 360 million learners in FY20. Indian edtech startups have seen a total investment of $2.22 billion in 2020 as compared to $553 million in 2019, according to Indian Private Equity and Venture Capital Association and PGA Labs data. The IVCA report ‘The Great Un-Lockdown: …

Edtech startups attracted over USD 2.22 billion funding in 2020: Report
4 years ago

Edtech startups attracted over USD 2.22 billion funding in 2020: Report

Hindustan Times  

Indian edtech startups received a total investment of USD 2.22 billion in 2020 as compared to USD 553 million in 2019, reflecting the confidence of investors in the segment that has seen a huge surge amid the pandemic, a report by IVCA-PGA Labs said on Thursday. The report, titled ‘The Great ‘Un-Lockdown’: Indian EdTech’, noted that Indian online education companies …

Edtech Firm Byju’s Valuation Surges After It Receives $200 Million Fresh Investment
4 years, 1 month ago

Edtech Firm Byju’s Valuation Surges After It Receives $200 Million Fresh Investment

ABP News  

As online education has gained tremendous pace owing to pandemic with schools remaining shut for almost a year now, it has only led to the growth of businesses in the edtech space. On of the major players in the field, Byju's has raised $200 million in a fresh funding round from private equity players BlackRock and T. Rowe Price. The …

Edtech firm Byju’s to raise $200 million at $12 billion valuation
4 years, 1 month ago

Edtech firm Byju’s to raise $200 million at $12 billion valuation

Live Mint  

Bengaluru: Online education startup Byju’s is close to raising $200 million in a fresh funding round from American investment firms BlackRock and T. Rowe Price at a valuation of $12 billion, said a person familiar with the matter. The Bengaluru-based edtech firm had last raised $500 million in September from a group of investors including private equity firm Silver Lake …

Edu-tech Company Byju's Raises Rs 908.9 Crore from DST Global
4 years, 3 months ago

Edu-tech Company Byju's Raises Rs 908.9 Crore from DST Global

News 18  

India’s largest edu-tech company Byju’s is raising about Rs 909 crore in funding from billionaire Yuri Milner-led DST Global, according to regulatory documents. According to the documents filed with the Corporate Affairs Ministry by Byju’s, which is operated by Think and Learn Pvt Ltd, 20,622 shares will be offered to DSTG VII Investments-2-IN Ltd, 17,777 shares to DST Asia VII …

Byju’s: Billionaire Yuri Milner all set to invest $400 million in Indian education startup
4 years, 4 months ago

Byju’s: Billionaire Yuri Milner all set to invest $400 million in Indian education startup

Live Mint  

DST Global, the investment firm headed by billionaire Yuri Milner, is close to investing as much as $400 million in Indian online education startup Byju’s, according to a person familiar with the negotiations.The deal values Byju’s at $10.5 billion and could be signed as early as this weekend, said the person, who didn’t want to be identified as the talks …

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