Byju’s Gets $122m From Tech Billionaire Yuri Milner’s Fund DST Global

Bengaluru: Homegrown education technology unicorn Byju’s has raised $122 million from tech billionaire Yuri Milner’s investment fund DST Global as part of its ongoing funding round, a month after storied Silicon Valley investor Mary Meeker’s Bond Capital chipped in $23 million at a $10.5 billion valuation. Byju’s has allotted 42,666 Series F preference shares to DST Global for ₹908. The company hopes to raise as much as $400 million in the ongoing round, sources told ET. It was unclear whether DST Global and other investors were also purchasing secondary shares and at what valuation. Byju’s has so far in the year raised around $550 million, with Tiger Global and General Atlantic ploughing in $200 million each in January. Investor interest in the company has been piqued after registered users grew to 57 million and it enrolled over 3.5 million paid subscribers quickly. ET reported last week that Unacademy was in talks to raise $150 million led by Japan’s SoftBank at a valuation of $1.3 billion, or more than two and a half times its valuation from its previous round. Vedantu, too, saw its valuation more than doubling to $600 million when it raised $100 million from US-based Coatue Management recently.