ⓘ A file-photo of Byju’s founder & CEO Byju Raveendran
India’s edtech unicorn, the third-most valued startup at $8 billion after Paytm and OYO, Byju’s has raised $200 million from Tiger Global.
In July 2019, Byju’s raised $150 million from Qatar Investment Authority at the valuation of over $5 billion. So going from $5 billion to $8 billion in a matter of just 6 months is certainly a big jump.
Byju’s is planning to deploy the fresh funds to level-up against the distant rivals in the edtech domain. The startup is also planning to expand into the overseas market. The following funding round will also see exits of some early investors.
As far as profitability is concerned, Byju’s has recorded revenue from operations of INR 1,306 Cr in FY19 i.e. three times that of INR 471 Cr in FY18. Moreover, the edtech startup has reduced losses to INR 8.82 Cr in FY19 from that of INR 37.14 Cr in FY18.