The funding came from Canada’s CPP Investment Board, Naspers Ventures, General Atlantic and some existing investors.

Byjus raises nearly 400 million valuation soars to 4 billion
Atom Fund Raising Thursday, December 13, 2018 - 08:29

Byju’s, India’s highly popular edtech startup has raised fresh funds to the tune of $328 million. This is the company’s F series funding and based on the filings with the Ministry of Corporate Affairs, there are three new investors - Canada Pension board’s investment arm CPPIB Investment Board Private Holdings, Naspers Ventures BV and General Atlantic Singapore. And the amounts invested by these three have been mentioned as $171 million, $122 million and $27 million respectively.

Byju’s, which started operations in 2008, already boasts of a galaxy of investors on its ranks. These include Tencent, Chan-Zuckerberg Initiative, Verlinvest, Sequoia Capital, Lightspeed Venture Partners, Aarin Capital and others.

The company’s current valuation is being placed at around $4 billion. It crossed the $1 billion mark only this March making it a Unicorn.

The company is promoted by Byju Ravindran and Divya Gokulnath and their main business model addresses the gap in the educations system that exists in the classroom delivery of lessons. Perhaps Byju’s has been able to replace the traditional tuition classes by producing videos that use a lot of graphics to explain to students in the way they can understand easily, absorb and reproduce in the tests and exams. The concept appears to have caught the fancy of the school children as evidenced by the growth Byju’s has been able to achieve.

Moving beyond the school curriculum, the company offers help to the students in preparing for several entrance and competitive examinations like JEE, NEET, CAT, IAS, GRE, and GMAT.

There has not been any separate statement from the promoters on what they intend to do with the funding raised in this round. It is significant since the overall amount of funds raised by Byju’s from 2008 till date stands at only $244 million.

According to a Mint report, Byju’s said that its monthly revenue was a Rs 100 crore and had set a target of Rs 1,400 crore of annual revenue.

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