Bengaluru, Jan 10: Education technology company Byju’s is learnt to have raised $200 million in a funding round from Tiger Global Management, which has valued the Bengaluru-based start-up at around $8 billion, making it the third-largest unicorn (start-up valued over $1 billion) in the country.
With this, the Byju Raveendran-founded company has seen over 50 per cent jump in its valuation in just around nine months. In March 2019, Byju’s was valued $5.4 billion, when it raised around $31 million from General Atlantic, and Chinese investment giant Tencent.
At the current valuation, Byju’s has now replaced home-grown cab-hailing major Ola as the third-largest unicorn, next only to Paytm and OYO, which are valued around $16 billion and $10 billion, respectively.
Byju’s confirmed the transaction through a press statement, though the company declined to share any specific details of the deal. Tiger Global could not be immediately reached for its comments.
“We are happy to partner with a strong investor like Tiger Global Management. They share our sense of purpose and this partnership will advance our long-term vision of creating an impact by changing the way students learn,” said Raveendran. “This partnership is both a validation of the impact created by us so far and a vote of confidence for our long-term vision.”
This is Tiger Global’s first investment in the edutech space in India after Vendantu, an online tutoring platform, where it, along with WestBridge Capital, led a $42-million round in August.
An early backer of India’s internet growth story, the New York-headquartered Tiger Global has been a prolific investor in the Indian start-up space. Its portfolio in the country ranges from consumer focused e-commerce companies that are vital for the growth of the sector, such as Flipkart, Delhivery, Grofers, Quikr and PolicyBazaar, to mention a few.
After tasting success with Flipkart, one of its earliest investments, where it had pumped in around $1 billion, the PE major is now doubling down its focus on the Indian start-up space, under its new investment head Scott Shleifer.
Shleifer, who set up international private equity practice for Tiger Global, is said to be as aggressive deal maker like his predecessor Lee Fixel, who left the investment firm in March. Since then, Tiger has also invested in a host of technology-focused companies in diverse sectors including Ninjacart, CRED, NoBroker and Facilio to mention a few.
“Byju’s has emerged as the leader in the Indian education-tech sector. They are pioneering technology shaping the future of learning for millions of school students in India,” Shleifer was quoted in the press statement issued by the edutech firm.
The 42-year-old Beary artiste-cum-politician, who had earlier served as the vice president of the Dakshina Kannada district unit of the Minority Morcha, will now also be in-charge of the minority unit of the saffron party in twin coastal districts of Dakshina Kannada and Udupi.
Comments
Please watch PK Movie, you will understand what does PK means... Cheddis alwz see Pakistan in their dream, its your fault for not using your mind to recognize the cheddi deception. Till when will you submit to the cheddi's lies and follow & support their evil agenda..
Use your intellect and be honest. We all clearly see their Lies and deception. Never think they will not be accountable...
DONT BE A WATCHMAN OF BJP AND RSS
Mr.Raheem, You have the right to join any political party. But please do not misquote Quran & Hadees for your benefit. i watched many debates in local channels , you were misquoted some ayath & Hadees about Go Hatya & Conversion. Political position is temporary but atleast show little bit ethics in your life. Do not justify Kalladka Bhat Hate speech /Soolibele about madrasa.
People are ready to release their families for their personal benefits. This guy doesnt even know what is Hajj Subsidy. He was claiming in one of his speech that \Muslim are receiving subsidy which was supported during AB Vajipaye govt time\" and muslims should support BJP. My dear, there is provision of subsidy to all religion if they are travelling abroad as pilgrim. Search it. Dont be so cheap to claim against own religion. Shame on you."
Dear brother Rahim uchil,
Congratulations for getting new responsibility. Hope to see some positive results this time from saffron party towards muslims. Take those comments as challenge and do something good for community. Hope to see you in more and more good positions. Wish you all the best.
Rahim, Uchila, you give answer in Mashara OR jahannam.....who bothers ???? your answer proves that you do not have guts to face the people........ Some one compared you to abbas naqvi and shanawaz hussain...... they married to young Hindu women .
If possible, do one more thing, work for the cancellation of Haj Subsidy..... Owaisi is struggling to put this in Modis Bheja, but it is not going.... try your best and tell the Muslims, that Allah do not need the haj from us with the begging from Indian govt.
Congratulations brother.
Masha Allah. Congrats Rahim Uchil. You are doing good job. BJP is far better than Congress and Rahim Uchil is far better than all Congress leaders from the coastal. He is a pious Muslim and a die hard fan of internationally acclaimed scholar Shaikh AP Abubakar Musliyar.
My message to Rahim sir: Dont care wahhabis and salafis. Our prophet has said muslims will be divided into 73 sects and only one will enter jannah. Who knows that sect might be the one which is with BJP!
Good answer brother Rahim Uchil. Dont care about jealousy people. We are all with you. In fact this news portal has more Wahhabi commentors. Just dont care them. Let them keep blaming. As Rohan sir rightly said, you may one day become a minister. Then those who are blaming you now, will be at ur threshold for your permission to bring their zakir naik to mangaluru. hahaha.
Bjp and RSS is behind minorities and daliths, they are doing every efforts to curb these two relegion. Their paid servants are asking our leaders head for lacs of rupees. So any one who go behind these RSS is not our men. He is against our relegion and against us.
I really dont understand why some people are so much narrow minded. he has given some responsibility. Muslims must congratulate him and try to take maximum benefits from his position. Who knows after next election he may also become a minister.
Anyways. All the best Mr Uchil. Go ahead and do good for the society and also for your community.
Just reward for defending communal news paper which published article against Islam and our prophet. He losing religion/people for Duniya's political career.
Mr PK (Comment No.8)
Your name also suggests that u r a pakistani fan. by the way Mr Rahim Uchil is appointed as BJP Minority Morcha vice president. And you are advising him to do the works of Mukri Morcha vice president! thats very funny!
Dear raheem uchil, may allah guide you to understand islam...aameen
Before answering to all the above questions you need to prepare yourself here in this world.
Congrats Rahim Bhai. You are one of a very few nationalist Muslim. We are all proud of you. Hope you will change the fate of ur community and teach them nationalism.
His life style fits into BJP which is built on corrupt foundation. The man never hesitates to do anything crime for personal benefits. This is the quality against the Islamic values.
EFFECT OF DIGITAL INDIAAAA.....
Dear Uchil,
Now that cheddis have given you the certificate for your commitment. from president to vice president.
Atleast save them from falling into the fire.
Tell them : Idol worship is wrong, its also mentioned in vedas (na tasya pratima asti - there is no image of God)
Tell them : There is no god worthy of Worship except ALLAH and Muhammad pbuh is the final messenger of ALLAH.
Tell them : Every deed in this life will be accounted and will be judged for an enternal life of heaven or hell.
Tell them Good deed will take you to heaven
Tell them if anybody did evil... ask forgiveness with God and promise never to commit again. & also ask forgiveness with the person they committed crime.
Tell them :
Dont hoist pakistan flag and blame muslims
Dont create JNU and doctored videos
Dont keep news anchors who decieve public with Lies.
Dont create unrest with false love jehad
Dont create face book page in the name of Muslim identity
Dont catch innocent MUSLIMs and DALITS & torture.
Dont Make bombs, they were already caught many times while doing it.
Dont kill humans for cows. it doesnt look better when we see international news.
Govts are not permanent, tomorrow it may be out of power.. People already know now who is a leader and who is a deciever.. Y dont YOU recognize it?
Another Naqvi or Shanwaz he too will be fit in nothing
Poor Chap what a pity.
I will give answers in mahshara.. In sha Allah
Clearly Cheddis are barking against Muslims and Dalits... and this Cheddi chela blind to see it...
Cheddis are very cunning in deceiving the people including their own cheddi members.
U have already become a weapon for cheddis to fight our own BROTHERS in faith.
They use dalit members to attack innocent which we now know .... whats their fate (Some spending their life in prison and some are on the run to the courts and some even in hideouts)
Only ALLAH knows Whats your intention by joining the haters of Muslims who opening deceive public about the peaceful religion.
Head Master of the school where there is only one master in the entire school.
Congrats Rahim Yachil, Engage Praising R.S.S an BD Goons acts and following kalladka Bhat, you will be prosperous future in National level.
Congratulations Master Rahim, For Saffron Terrorist team Have to Have a good Speaker like you Uchilas keep it up so far you doing great work for Saffron Criminals, you criminals forgotten about Master Chaddi Anwar Manippady, he might have seen this message sure he will do like before how he left our great National party Congiieee!!!!! look like nowadays barking dog never bites.
any way master uchil you lucky man become a member of Yeddianna group.
BJP needs such muslims who are ready to sell themselves for the sake of money and seat though their own people are suffering from this hate mongers of BJP.
I hope this man was there in the sangh parivar processions who attacked Muslims and ransacked their propertities plus places of worship.
Dear Rahim, i could not understand what will be your fate on the Day of Judgement for your injustice to your own people You are supporting the terrorists who are after Muslims. shame on you.
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