ADVERTISEMENT

BYJU’s Gets Undisclosed Fund From BlackRock and Others
B

The edtech major BYJU's has secured an undisclosed amount of funding as a part of its 500 million USD round. With the latest infusions, the company is now valued at 10.8 billion USD. It has raised capital from BlackRock, Sands Capital, participation from Silver Lake, and others.

On Tuesday, BYJU’s (1), the edtech major, stated that it had secured an undisclosed amount from BlackRock, Alkeon Capital, and Sands Capital. Owl Ventures, General Atlantic, Tiger Global, the startup investors, and Silver Lake also participated in the latest round, as per the company’s statement. 

The fresh tranche is part of the company’s 500 million USD or nearly 3,672 crore INR funding round as per the sources. Now the company’s valuation has reached 10.8 billion USD. 

In early September, BYJU’s announced the new fundings from Silver Lake and its existing investors, such as General Atlantic, Owl Ventures, and Tiger Global. The Founder and CEO of BYJU’s, Byju Raveendran, stated that the team is delighted to welcome BlackRock, Alkeon, and Sands Capital as partners. The firm aims to keep creating engaging and personalized learning solutions. With the partnership, the startup can reaffirm its commitment towards building and transforming the learning landscape via technology, quality, and innovation across the globe. 

 

BYJU’s Aiming to Accelerate Its Global Expansion Plans

Raveendran stated that the existing investors’ continuous support indicates their trust in BYJU’s and its mission. Notably, the edtech startups have observed a spike in its growth during the coronavirus pandemic, toiling as an inflection point. 

The edtech major has launched BYJU’s Classes and marked its entry in the after-school learning segment. It is a comprehensive program that offers online tutoring. The firm also offers learning programs in multiple languages such as Hindi, Gujarati, Kannada, Malayalam, Bengali during the COVID-19 resultant lockdown. 

Last month, the firm acquired a coding platform based in Mumbai, WhiteHat Jr. The startup anticipates that the integration will accelerate its plan of global expansion as coding is an emerging future skill. BYJU’s has observed 25 million new students since the lockdown. Currently, the app has more than 70 million users, with 4.5 million annual paid subscription, as the company claims. 

+ posts

Rucha Joshi is fueled by her passion for creative writing. She is eager to turn information into action. With her hunger for knowledge, she considers herself a forever student. She's currently working as a content writer and is always interested in a challenge.

Disclaimer: The views, thoughts, and opinions expressed in the article have been curated for our audience and does not warrant a 100% accuracy. All the information mentioned in the article is subject to change according to the changing viewpoints. Feel free to reach us at [email protected] for any change or copyright issues.

Note: If you buy something via a link on this page, we might earn a small commission on it.

Rucha Joshi
Rucha Joshi
Rucha Joshi is fueled by her passion for creative writing. She is eager to turn information into action. With her hunger for knowledge, she considers herself a forever student. She's currently working as a content writer and is always interested in a challenge.

Leave A Reply

Please enter your comment!
Please enter your name here

related stories

While there are several benefits of adapting to the new tech, it may replace traditional delivery executives. Let's read on to know more.

India Aims to Win Contactless Delivery with Drones Amid the Pandemic

0
As the coronavirus pandemic is razing havoc in India, the central government is trying its best and turning to different and innovative means to...
Let's uncover latent secrets from an interesting Asian island of Japan and explore how you can apply them in your venture.

Entrepreneurial Lessons from Japan: 5 Trends You Can Capitalize

0
It is a subsequent article where we discover trends in different parts of the world, how businesses respond to these trends, and offer lessons...

Lessons from Estonia: A Look into Future’s E-Societies

0
Overview Experts widely consider Estonia among the world's most digitally advanced nations. It ranks third behind Denmark and South Korea in the UN's EGDI, E-Government...
The popular mobile game from Tencent, Player Unknown's Battlegrounds, or PUBG for short, may make a comeback in India. Yet, it could all be speculation.

PUBG Mobile Possible Relaunch in India

0
Key Highlights The Indian government had banned a popular battle royale game, PUBG Mobile, in September last year, along with hundreds of other Chinese...
Today, let's talk about SEBI's review of Zomato's DRHP and its concerns and present sentiments of Indian founders towards Chinese investors.

SEBI, Zomato IPO, Chinese Investors, and the Indian Startup Ecosystem

0
Last month, Zomato filed its DRHP, a draft red herring prospectus for its IPO worth over 1.1 billion USD later this year. The food...
The new iPhone update allows users to opt out of having apps tracking their online habits. And it is a huge part of Facebook's business model.

Apple’s App Tracking Transparency and Feud with Facebook

0
Apple users across the world are adapting to the latest iOS update, called iOS 14.5, featuring a new batch of emojis. However, there is...
Several event management businesses have started to work from home. It can also be a great model if you are looking to start an event planning company.

Starting an Event Management Business Through Social Media

0
There is no time like the present to start your event management business. Your passion for event planning may have started in high school when...
After months of preparing, Epic Games finally took Apple in a court trial that could fundamentally change App Store's makeup.

EPIC Vs. Apple: A Step Towards Regulating Tech Monopoly

0
After months of preparing, Epic Games finally took Apple in a court trial that could fundamentally change App Store's makeup. The fight dates back...
ADVERTISEMENT