InvestorQ : Is there one more investment that is coming into Byju’s?
Anamika Sodhani made post

Is there one more investment that is coming into Byju’s?

1 year ago

That is correct. DST Global, an investment firm owned by Russian billionaire Yuri Milner, is in talks to lead a $400 million round of funding for Byju’s. This deal, if it fructifies, will value Byju’s at $10.5 billion. Byju’s is already the second highest valued start-up in India after Paytm, which is more into alternate payment systems.

Online education received a major boost amid the COVID-19 pandemic as more people have taken to virtual learning. Byju’s is looking at a large acquisition in the US for which they need a war chest. This infusion is intended at that. Byju’s was founded in 2011 by a former teacher Byju Raveendran. Byju’s has already made a series of acquisitions abroad.

DST Global is a leading late-stage technology investor and has, in the past, pumped money into companies like Facebook, Spotify, Alibaba, Twitter and Airbnb. DST is not new to India because it had already invested in Swiggy back in 2016 as well as Udaan later. However, DST has not been too active after that in the Indian start-up space. Some of Byju’s marquee investors include Naspers, General Atlantic, Tiger Global, Sequoia Capital etc.

For the fiscal year 2020, Byju’s doubled its total revenues to Rs.2800 crore and currently boasts of 3.5 million paid customers. It is one of the few profitable internet companies in India. In the midst of the Coronavirus scare, online education has boomed and funding options have amplified for such edtech unicorns.