Live
- GMR Airports Unveils AI-Powered Digital Twin Platform to Transform Airport Operations
- India poised to become leading maritime player: PM Modi
- Top Causes of Kidney Stones and How to Recognize Silent Symptoms
- India’s renewable energy capacity logs 14.2 pc growth at 213.7 GW
- Winter Session of Odisha Assembly adjourned sine die
- Biden calls Trump's tariff approach 'major mistake'
- After Drama Over Eknath Shinde’s Chief Minister Race, Maharashtra Cabinet Formation Faces New Tensions
- Egyptian FM, Blinken discuss recent developments in Syria
- Iran's supreme leader says Syria's developments result of US-Israeli 'plot'
- Elon Musk to Purchase $100 Million Luxury Mansion Next to Donald Trump's Mar-a-Lago, Report Reveals
Byju's to raise $150M from UBS, to be valued at $16.5B
Byju's to raise $150M from UBS, to be valued at $16.5B
Edtech industry leader Byju's is raising nearly $150 million from UBS Group AG, that will take its market valuation to $16.5 billion, reliable sources said on Thursday.
New Delhi: Edtech industry leader Byju's is raising nearly $150 million from UBS Group AG, that will take its market valuation to $16.5 billion, reliable sources said on Thursday.
UBS Group AG, part of UBS Asset Management, will invest a total of around $300 million in Byju's, people familiar with the deal told IANS.
The leading ed-tech company recently raised nearly $1 billion as part of its 'Series F' funding that included Baron Funds and Facebook cofounder Eduardo Saverin's B Capital Group.
The latest fund-raising came after Byju's announced to acquire Aakash Educational Services Ltd (AESL) through a strategic merger. The deal size is also pegged at close to $1 billion.
In September last year, Byju's raised $500 million (approximately Rs 3,689 crore) in a funding round led by global technology investment firm Silver Lake.
Existing investors Tiger Global, General Atlantic and Owl Ventures also participated in the round that put the edtech startup's valuation at $10.8 billion.
The new investment came barely a month after Byju's acquired WhiteHat Jr, a Mumbai-based coding platform, for $300 million.
Byju's said it has seen over 20 million new students starting learning from its platform for free since the lockdown.
The app currently has over 64 million registered students and 4.2 million annual paid subscriptions.
