Indian online education tech startup Byju’s has raised $800 million, led by its founder Byju Raveendran who chipped in with a personal investment of $400 million, the company said in a release.
Sumeru Ventures, Vitruvian Partners and BlackRock also participated in the latest round that pegs the value of the online platform according to some Indian media estimates at about $22 billion.
“Our sustained focus is on achieving our long-term goals around creating life-long value for our learners. For that, we are imagining and reimagining the way students will learn, unlearn and relearn in the future. Our aspiration is to build something that will last for decades,” founder and chief executive Raveendran said in a statement.
Byju’s, which launched in 2015 and claims over 115 million registered students and 7.5 million annual paid subscriptions, has been on an expansion drive and has acquired a string of domestic and international companies in the education space such as EPiC, Tynker, White Hat Jr, Aakash, Great Learning, Gradeup.
Mike Risman, managing partner of Vitruvian, said, “As a leader in the edtech space, Byju’s strong growth and expansion in national and international markets has been very promising. We look forward to working with Byju’s as it builds on and accelerates its compelling growth trajectory.”
- Jim Pollard