Byju’s, the Indian edtech giant, has raised between $200 million and $300 million in a funding round for its corporate venture arm, Byju’s Capital, according to Bloomberg.
The funding was led by private equity firms General Atlantic and Blackstone Group, as well as sovereign wealth fund Abu Dhabi Investment Authority, among others. The investment comes as Byju’s continues to expand its reach and offerings in the edtech space, both in India and globally.
Byju’s Capital was launched in 2020 to invest in early-stage startups working in the education technology sector. The arm has already made several investments in companies such as LabInApp, a virtual science lab platform, and HashLearn, an online tutoring platform. With the new funding, Byju’s Capital will have more resources to back innovative startups and help shape the future of education.
“We are excited to have such strong partners on board who share our vision of creating a world where learning is accessible, engaging and personalized,” said Mrinal Mohit, Chief Operating Officer at Byju’s.
The edtech industry has been booming in recent years, fueled in part by the Covid-19 pandemic, which forced schools and universities to shut down and pushed millions of students to turn to online learning. Byju’s has been at the forefront of this trend, with its popular app and live classes attracting millions of students in India and beyond.
Byju’s, which was founded in 2011 by Byju Raveendran, has been growing rapidly, with a valuation of $16.5 billion as of April 2021. The company has raised more than $2.3 billion in funding to date, from investors such as Sequoia Capital, Tiger Global Management and Chan Zuckerberg Initiative, among others.
The new funding for Byju’s Capital is expected to further strengthen the company’s position as a leader in the edtech space and enable it to support more innovative startups in the years to come.
In conclusion, the latest funding round for Byju’s Capital is a testament to the growing demand for innovative solutions in the education technology sector. With the support of top investors, Byju’s Capital is poised to make a significant impact in shaping the future of learning, both in India and around the world.