Byju's, an Indian multinational education technology company raises around $1 billion from Bloomberg. The round values the company at around $15 billion.

The company also plans to raise another $200 or $300 million, at a slightly higher valuation, in the coming few weeks.

The round also saw the participation of existing investors like private equity giant Silver Lake Management, Owl Ventures, and T Rowe Price, who invested around $100 million each in the funding round. The new investors who participated in the funding round are B Capital Group, founded by former Facebook co-founder Eduardo Saverin, Baron Funds, and XN.

Byju Raveendran, Founder, and Chief Executive Officer, Byju's, said Byju's is looking at making acquisitions to help speed up growth in markets like the U.S.

"The pandemic had done wonders to bolster the industry of online education. The company has 80 million registered users in India, mainly learning things like simplified math and science concepts with the aid of animated videos and games," he added.

Byju's investment comes at a time when Indian startups are raising record amounts of money, with half a dozen companies announcing unicorn-level capital raises in the last week.

The company has raised $500 million last year, backed up by Silver Lake. The push came when parents sought out online schooling as a way to educate their children as the pandemic raged in the country.

Byju's saw investment activity from numerous big names including Facebook's Mark Zuckerberg's Chan Zuckerberg Initiative and Naspers.

About 250 million Indian children were affected by the pandemic last year. Parents had to take up digital platforms to allow their children to keep up with schooling.

In global markets such as the United States, Latin America, and Australia, Byju's is currently focusing on offline exam training as well as one-on-one coding and math lessons.