Byju’s made a $300 million all-cash offer: BlackRock, Sands Capital and Alkeon Capital lead investment
Investors increasing support for India’s ed-tech start-ups due to the challenges that the country is facing because of global pandemic.
Byju’s is now a giant platform in the Indian education technology space. BYJU’S raised million cash offer from BlackRock Inc., Sands Capital and Alkeon Capital, to meet the demand of the time.
The totalled sum is about $300 million and values BYJU’S at about $11 billion, according to sources. Existing backers Tiger Global, General Atlantic and Owl Ventures also invested, the company said, while private equity giant Silver Lake put money into the startup earlier this month.
Investors are increasing support for India’s edtech startups as the country’s pandemic challenge spreads and schools shut their doors.
This interactive platform aims to simplify science and math concepts easily with the help of games and videos. 70 million users are registered and over 4.5 million are paid subscribers from kindergarten till 12th grade.
With the global pandemic, most of the teachers and students are being forced to adopt digital learning and hence it gained more attention during this time of crisis.
Byju’s in its past raised $75 million in funding from venture capitalists Sequoia Capital and Sofina, the largest funding round in the (admittedly short) history of EdTech in India, and the man at its helm is clearly the driving force that has made it all happen.