BYJU’S Accuses Investors of Conspiring in Crisis, Receives 100% Commitment for Rights Issue

BYJU’S, the edtech giant, has accused certain investors of conspiring against its founder and CEO Byju Raveendran amid the ongoing crisis at the company. BYJU’S claims that its founders have invested over $1 billion in the startup amid challenging macroeconomic conditions when other investors hesitated to support the company. The company has also stated that its $200 million rights issue has received commitments for more than 100% of the amount, which will help it meet operational liabilities and mark the beginning of the final phase of its recovery.