Byju’s has raised $800 million in fresh funding as part of a pre-IPO round, the education technology firm said.
The round, which comes ahead of its planned initial public offering (IPO), values the Bengaluru-based company at about $22 billion.
The mammoth post-money valuation makes it India’s highest-valued startup.
Sumeru Ventures, Vitruvian Partners, and BlackRock were the other investors who participated in the capital raising.
The company had raised about $300 million in October last year as part of its previous round which valued it at $18 billion.
Byju’s has raised over $2 billion since the onset of the Covid-19 pandemic, using most of the proceeds to acquire other ed-tech companies.
In April last year, it bought offline coaching institute Aakash Educational Services for close to $1 billion. In December, the company acquired Austria’s math platform GeoGebra.
It has also acquired Great Learning and US-based EPIC to diversify its offerings in the growing ed-tech space.
The ed-tech platform has been trying to make deeper inroads into the US market, and Latin American region, as part of its international expansion roadmap.
The company recently announced plans to double down on the offline segment in India and earmarked investments worth $200 million to grow its tuition centres.
It has also launched 80 offline centres across 23 cities and said it was hoping to add another 500 centres across 200 cities this year.
Byju’s has said that it has more than 150 million learners on its platform.
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