Edtech Unicorn Byju's raises INR 2,200 crores led by Oxshott Capital Partners & Others
In fresh funds, ed-tech unicorn Byju’s has raised ₹2,200 crores led by New York-based Oxshott Capital Partners as part of a Series F round. Other investors included IIFL, Edelwiss, Verition Multi Strategy Master Fund and XN Exponent Holdings.
Past year the covid pandemic fuelled an online learning boom due to which the company secured some of the largest cheques from institutional investors.
In June, Byju’s raised $1.5 billion from Abu Dhabi sovereign fund ADQ, UBS Group and Blackstone Group. Byjus’s has also raised more than $1 billion from investors led by Facebook co-founder Eduardo Saverin’s B Capital Group, US-based hedge fund XN Exponent Holding and Baron Funds at a valuation of around $ 15 billion.
Byju’s has paid out over $2.2 billion in acquisitions this year alone. It bought US kids’ coding platform Tynker, last month which is its ninth acquisition this year. It acquired Gradeup, an online exam preparation platform in September. The edtech firm also acquired higher education platform Great Learning, kids’ digital reading platform, Epic, and test preparation provider Aakash Educational Services for $1 billion in quick succession.
In FY19-20, Byju’s consolidated sales were 80 per cent higher than the previous year whereas the losses widened nearly 30 times during the period.
Byju’s appointed Ola executive Puneet Bhirani as senior vice president of operations last month. Byju’s founder and chief executive Byju Raveendran said, the company is considering an initial public offering and will be raising its last private round. The company is also considering both the US and India markets for its listing, he had said.
This year, food delivery startup Zomato became the first unicorn to list on the domestic stock exchanges. Several tech unicorns including PolicyBazaar, Nykaa and Paytm have also filed paperwork for their initial share sale, while others such as PharmEasy, Ola and Delhivery are also set to file documents for IPO.
Past year the covid pandemic fuelled an online learning boom due to which the company secured some of the largest cheques from institutional investors.
In June, Byju’s raised $1.5 billion from Abu Dhabi sovereign fund ADQ, UBS Group and Blackstone Group. Byjus’s has also raised more than $1 billion from investors led by Facebook co-founder Eduardo Saverin’s B Capital Group, US-based hedge fund XN Exponent Holding and Baron Funds at a valuation of around $ 15 billion.
Byju’s has paid out over $2.2 billion in acquisitions this year alone. It bought US kids’ coding platform Tynker, last month which is its ninth acquisition this year. It acquired Gradeup, an online exam preparation platform in September. The edtech firm also acquired higher education platform Great Learning, kids’ digital reading platform, Epic, and test preparation provider Aakash Educational Services for $1 billion in quick succession.
In FY19-20, Byju’s consolidated sales were 80 per cent higher than the previous year whereas the losses widened nearly 30 times during the period.
Byju’s appointed Ola executive Puneet Bhirani as senior vice president of operations last month. Byju’s founder and chief executive Byju Raveendran said, the company is considering an initial public offering and will be raising its last private round. The company is also considering both the US and India markets for its listing, he had said.
This year, food delivery startup Zomato became the first unicorn to list on the domestic stock exchanges. Several tech unicorns including PolicyBazaar, Nykaa and Paytm have also filed paperwork for their initial share sale, while others such as PharmEasy, Ola and Delhivery are also set to file documents for IPO.
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