Byju’s, the edtech behemoth, has raised an additional $296 million in investment. Till date in 2021, the corporation has raised $1.29 billion. The most recent tranche is a part of Oxshott Venture Fund’s continuing Series F financing. A total of five other investors took part in the round. Byju’s, which has been around for a decade, is issuing 77,2174 Series F compulsory convertible cumulative preference shares (CCPS) at a premium of 2,85,062.
|Amount in Series F||Investors||Month|
|$460 million||MC Global Edtech Investments Holdings, B Capital, TIGA India, TCDS India, Arison Holdings||March|
|$350 million||UBS Group, Zoom founder Eric Yuan, Blackstone, Abu Dhabi sovereign fund ADQ and Phoenix Rising–Beacon Holdings||June|
|$50 million||IFFL, Maitri Edtech||June|
|$150 million||Asmaan Venture, Mirae Asset and ARK Ncore||August|
|$296 million||Oxshott Venture Fund, Edelweiss, IIFL, Verition Fund, XN Exponent Holdings||September|
|Oxshott Venture Fund||₹1,200 Crore|
|Verition Fund||₹147 Crore|
|XN Exponent Holdings||₹150 Crore|
The news comes shortly after Byju’s raised $150 million at a $16.8 billion value.
Byju’s is the world’s most valuable edtech startup, founded in 2011 by Byju Raveendran and Divya Gokulnath. Until this year, the company’s operations were primarily located in India. It planned to expand internationally after onboarding 100 million members in the United States. Its most recent investment is likely to be the first in a multibillion-dollar round.
In order to fuel its international expansion and reinforce its core activities, Byju’s has purchased approximately one startup every month in 2021. In the next three to four years, international markets will account for a third of the company’s sales. Byju’s worldwide market would be dominated by the United States.
Why concentrate on the American market?
Byju’s intends to concentrate on the American market, which is the largest in terms of edtech outside of India. The fact that the majority of their items are available in English will be an added benefit. Byju’s has bought Epic, Tynker, and Whodat, all of which are based in the United States, as well as Great Learning, which is based in Singapore.
Byju’s is focused on getting a slice of this American pie, and it will be interesting to see how its plans play out in the months and years to come.