We Will Be In 30,000 Societies By This Fiscal-End: MyGate
Published on 9th Sept, 2020 | 1 min read
BENGALURU : Online learning platform Byju’s has raised $500 million in a fresh round of funding led by US-based private equity investor Silver Lake, along with participation from existing investors including Tiger Global, General Atlantic, and Owl Ventures. Silver Lake’s investment into edtech platform Byju’s comes shortly after the PE investor picked up a 0.93% stake in telecom major Reliance Jio for ₹4,546. The new round values Byju’s at $10.8 billion, up from its last valuation at $10.5 billion from its earlier Series F round that was closed in August, said a person aware of the deal asking not to be named. On 27th August 2020, the edtech unicorn also raised $122 million funding from DST Global, the investment fund headed by tech billionaire Yuri Milner. “We are delighted to lead this investment and partner with Byju and his impressive team of education technology pioneers in their mission to help children in India and around the world achieve their true potential,” addedGreg Mondre, Co-CEO of Silver Lake. Recently, Unacademy raised $150 million in funding from Japan’s Softbank, valuing the startup at over 1.4 billion.Edtech startup Toppr raised $50 million during the pandemic period, while Vedantu raised $100 million led by New York-based hedge fund Coatue, valuing it at $600 million.
