Byju's, an edtech startup, announced on Friday that it has raised USD 800 million (about Rs 6,000 crore) in a funding round led by its founder and CEO Byju Raveendran, who contributed half of the total.

In addition to Sumeru Ventures, Vitruvian Partners, and BlackRock, the fundraising round included Sumeru Ventures, Vitruvian Partners, and BlackRock.

The corporation has raised new capital with an enterprise value of USD 22 billion, up nearly 22% over the previous stated estimate of USD 18 billion.

The investment comes as the company prepares to launch its initial public offering in the next 9 to 12 months.

"Byju Raveendran, Founder and CEO of Byju's, is also part of this fund-raise and has made a personal investment of USD 400 million," the company said in a statement.

Raveendran's stake in the company will climb to 25% from 23% previously with this investment.

"We continue to witness accelerated growth in India and international markets through both organic and inorganic routes. Our sustained focus is on achieving our long term goals around creating life-long value for our learners. Our aspiration is to build something that will last for decades," Raveendran said.

India has the capacity to build global champions in the field of education technology by resolving the trilemma of cost, quality, and scale, he noted.

"We will continue to invest in multiple learning models to provide students with quality education across the world," Raveendran noted.

With an annual renewal rate of 86 percent, Byju's claims to have over 150 million learners on its platform.

"As a leader in the edtech space, Byju's strong growth and expansion in national and international markets have been very promising. We look forward to working with Byju's as it builds on and accelerates its compelling growth trajectory," Mike Risman, managing partner of Vitruvian, stated.