Indian multinational educational technology company, headquartered in Bangalore, Byju’s is raising $200 million funding through equity rights issue at an at a venture valuation in the array of $220-250 million.

According to PTI, the company is planning to present equity at this low valuation only for this tranche of issue. In an official statement, Byju's says that the motive at the back of this funding round is to support the ongoing capital expenditure and support general corporate purposes.

In a note quoted to the shareholders, Byju Raveendran, Founder, Byju's states, “Along with being a founder, I am also the largest investor in the company. The funds raised will be exclusively utilized to clear immediate liabilities and meet operational requirements, while maintaining the current rights of our valued shareholders. I am also happy to share that BYJU’S is now less than a quarter away from achieving operational profitability, reflecting the effectiveness of our strategic initiatives and the resilience of our business model”.

On commenting on this funding round, the ed-tech platform says in a statement, “The board of Think and Learn Private Limited (TLPL) today launched the raising of funds USD 200 million by way of a rights issue to all its equity shareholders to support its ongoing efforts to drive growth and achieve operational sustainability.”

Also the statement adds, "As the largest shareholders, the founders of BYJU'S have already demonstrated their commitment to the company by personally investing more than $1.1 billion in the last 18 months".