Bengaluru-based online educational services provider – Byju’s has raised $460 million in Series F round. The ed-tech startup is now valued at around $13 billion.
The ongoing round saw participation from MC Global Edtech Investment Holdings LP along with B Capital of Eduardo Saverin, Facebook’s co-founder. The funding was first reported by news portal – Entrackr.
Tiga Investments, Arison Holdings, TCDS (India) LP, XN Exponent Holdings, Baron Global Advantage Fund and Baron Emerging Markets Fund also participated in the financing round.
“BYJU’S has approved the allotment of 1,40,233 Series F compulsory convertible preference shares (CCPS) at a face value of INR 10 and a premium of INR 2,37,326 per share. Lead investor MC Global has invested INR 1,628 Cr (about $225 Mn) for a 1.73% stake in the company. B Capital participated in the round through two entities, infusing about INR 561 Cr (about $77 Mn) in exchange for 0.59% stake in the company.” – A filing with the ministry of corporate affairs informed.
BYJU’S is India’s ed-tech company and the creator of school learning app. Launched in 2015, BYJU’S offers learning programs for classes 1 – 12 (K-12), and aspirants of competitive exams like JEE, IAS etc. With 50 million registered students and 3.5 million paid subscriptions, BYJU’S claims to have become one of the most preferred education platforms across the globe.
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.