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.
Comments
He is a crazy without having any knowledge of islam. He only knows Talaq but does not know how to implement or follow it. such people are bringing shame to muslims and Islam. He should apologise for this great mistake and ask for pardon from Allah. May Allah give him right knowledge of Islam.
Rikacha ....idu democracy kanappa ....sumne avara paadige avaranna bidakke agalla ...crimes ge nimge non sharia beku ...kabbaddi adakke personal laws beku ...haha......hogappa ...eradu peg haaki ...bidko ...ohh ivattu yaava college hathra nu beat hogilla anths kanuthe raja Alva adikke....
I don't understand why non Muslims are more interested then Muslims to discuss about this subject. Mind your own business guys....don't disturb Muslims...they know what is good for them....
Very bad ...women are considered as property and I met one divorcee but well educated ..her husband left her just becoz she had baby girl ..he is roaming freely in India and she was in trauma ...later one good hearted married her ..of course he is a Hindu ...now they stay in Singapore only ...to send sexual abuse and polygamy ..govt must bring strong rules ....
Request everyone to watch video on triple talaq by Br.Imran. https://www.youtube.com/watch?v=MwNAgNNE-lI
This is an ignorant act to Claim a divorce, Divorce, in Islam is the most uncalled act for any man or women. The conditions and procedures are highly thoughtful & very clearly mentioned in Quran. A short example of one of the conditions: A triple Talaq doesnt mean reciting the word thrice & done, but, Giving a waiting period of 1 month to resolute and try to improve in between each claim of Talaq.
I would wish the commentators here just go through what the Quran says from the right source and understand the integrity of Justice given to both gender. This holds good for generations that's passed and for future to come.
When such incidents happens..
its a way Non Muslims & Some ignorant Muslims will know the reality of the divine law.
We Muslims know that Devils are most happy when couple part...
So a true Muslims will try to stay together as much as they can save their marriage form splitting each other.. and There is an option for the couple who could not go along with the partner.. (For eg : if the husband is dunkard and wife have a chance to give khula (talaq) or if the wife is dunkard and husband can have the option of giving talaq despite several warnings to quit the habit)
WE see compared to other religions, Muslim divorce rate is very less...
I would request the Non Muslims and the ignorant muslims who misuse this divine law to look the answers from the source or please check below video
\Br.imran Answering About Triple Talaq To a Non Muslim Sister\"
Well EXPLAINED .."
I don't know why the other part of women's right in Islam is not highlighted to public....they forgot how sita was left back in the jungle with luv and kush....can we know the reason please.......
If there is rift between couples, if every ways of compromise failed to unite them... is there any other solution other than divorce ? whether he proclaimed thru phone or writing letter or any other valid means , discussion on 'way of talaq' is second option.. discussion on 'condition of couple's relationship' should be first option for discussion...
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