BYJU’s raises USD 300 million in Oxshott Capital-led Series F funding
Category: #business  By Pranali Mehta  Date: 2021-10-05
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BYJU’s raises USD 300 million in Oxshott Capital-led Series F funding

Bangalore-based education technology company, BYJU’s has reportedly secured USD 300 million in a Series F funding round led by Oxshott Capital Partners LLC. The fresh funds will be used to expand the company’s international business and explore merger & acquisition opportunities.

The funding round also saw participation from XN Exponent Holdings, Edelweiss Partners, Verition Multi-Strategy Master Fund Ltd., and IIFL. The company issued 77,174 shares with Oxshott alone purchasing 40,000 shares at USD 3819.11 per share.

BYJU’s is India’s highest-valued private internet company at USD 18 billion, followed by fintech firm Paytm which is evaluated at USD 16 billion. The EdTech company is also planning to go public soon.

For the record, BYJU’s has been aggressively spending on acquisitions and has shelled out nearly USD 2.2 billion since the start of 2021. Some of its recent acquisitions include offline test prep company Aakash Educational Services, professional & higher education provider Great Learning, and coding platform Tynker.

Notably, the new investment round comes at a time when BYJU’s has been convening with bankers regarding filing an initial public offering in 2022. Some bankers have estimated the startup’s valuation at USD 50 billion if it lists next year.

Byju Raveendran, Chief Executive Officer and Founder of BYJU’s was quoted saying that plans to take the company public are already in motion with the approximate timeline being 18 months. The demand for online education in India has increased due to the COVID-19 pandemic, and China’s recent crackdown on technology has driven more investors to the Indian market, he added.

The COVID-19 pandemic, which had resulted in the enforcement of a months-long nationwide lockdown and shutdown of colleges and schools, accelerated BYJU’s market penetration as well as other online learning startups such as Vedantu, and Unacademy.

Source Credits—

https://techcrunch.com/2021/10/04/indian-edtech-giant-byjus-valued-at-18-billion-in-new-funding/?guccounter=1

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Pranali Mehta

Pranali Mehta    

Pranali Mehta boasts of over three years of experience as a content writer. Having completed her graduation in chemical engineering, she worked as safety & environment associate in a chemical company for a year. Harnessing her passion for writing however, Pranali deci...

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