Byju’s raises 350 mn USD

Mumbai: Edtech company Byju’s is now India’s most valuable unicorn startup with a valuation of $16.5 billion, surpassing fintech company Paytm’s $16 billion valuation.

As per CB Insights data, as of June 2021, Byju’s is the 11th most valuable startup in the world. The total number of unicorns worldwide is 708 with a valuation of $ 2319 billion.

Chinese company Bytedance, the parent company of TikTok, is the most valuable startup in the world with a valuation of $140 billion.Byju’s investors include Tencent Holdings, Lightspeed India Partners and Sequoia Capital India.

It has recently raised $350 million from UBS, private equity giant Blackstone, Abu Dhabi state fund ADQ, Phoenix Rising and video conference firm Zoom’s founder Eric Yuan.One97 Communications, the parent company of Byju’s, has a valuation of $16 billion with investors like Intel Capital, Sapphire Ventures and Alibaba Group.

 

NT Bureau