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.
However, the case is not completely solved as the 21-year-old girl, who was found with her boyfriend house at Naimarmoola near Kasargod on Friday, told the police that she would not return to her parents' house.
Comments
Best Decision?? how do u know ?? How can you tell that??
Happy Married Life
hahaha.. sorry yaaro odihodlu antha burnol and itch guard haakolllodakke naavenu jihadi gala ... we are now enjoying surgical strikes on mini pakistanis ... kushi ge yenne hodeyodralle busy weekend nalli ... saw indian channels , in almost all channels ...Jihadis and burqas ninthonkondu modi na baiyyodu nodidre gottagate ,burnol and itch guard yelli jaasthi agide antha gottu ...
neo converts are used by ISIS to wage Jihad , namge worry irodu ashte ... its two way process kanree ... even last week i saw 2 muslim gals leaving piece ful religion towards hinduism and christianity ...
abbu beary samadhana kanappa ... nin kashta artha agatte ... rashtradrohi kelasa nodi ... police and NIA involve age agatte ...yevano jayanthi anthavne kanrappo ... jayanthi annodu hoge haaksi kondavrige kanappa ... swalpanadru general knowledge beku .. madrasa product antha gottagi biduthe ...hhahaha...adakke bere 6 liikings , it proves madrasa education yaav level ge antha ...
Naren Kotian
You have mistaken Sanathan Dharma. We are the true followers of Sanathan Dharma which prohibits Idol Worship.
We recite Gayathri mantra 17 times in our prayer. Rigveda 3-62-10
It is the first chapter of the Quran.
It has to be logically from One Supreme Creator who has no Image. Creator who is unlike His creations. Understand the Truth. Study your scriptures learn sanskrit come back to the Truth.
Because Truth is going to succeed and falsehood is bound to perish
She has come back to the Sanatan Dharma
Happy married life for couple. Burnol+ itch guard to naren Singapore.
Best decision from her side, congrats
Naren bhai ... u have mistaken !!!! The picture what cd published here is her old picture when she was a piece , in sha allah we can see a peacefull picture of her in the future with the hijab
MADHUVE JAYANTI FOR BOTH...AND BURNOOL JAYANTI FOR CHADDIS.
If Muslim girl elopes with Hindu boy, police intervene to unite them. Here, the case is vice versa and the same police are separating the couple. What a tragedy.
her t shirts speaks alot she left peaceful religion( sanatan dharma) and joined piece piece religion :) hahaha ... not a loss,its two way process ... but NIA must track these guys becoz converts are used in ISIS .We know 21 neo converts joined ISIS from kasragod . there is chance of waging jihad against own country
This love, staying with a girl before marrieage, and dont know the islam , Quran and hadith. Simply enjoying in duniya is not the behaviour of true muslim. They are spoiling their life here and here after even took birth in muslim family and have a name of muslim. and also they are spoiling the name of our muslim community. Our prophet Muhammad(PBUH) Said, a Muslim sweeping lady is better than other non muslim girls to marry.
made for each other.
let them lead their life. good or bad finally they are the one who suffer.
giving birth , giving education , love and everything by the parents and finally the girl is saying that i don't want parents and the boy who poses like Salman Khan is her choice.
she will repent one day.
at the moment let them both enjoy....
Wher is my comment?why you do not posted my comments?is there any mistake is there? please CD dont show double standeard becouse im one of the reguler reader..
This is the result of advanced tech. Parents has to check their all mobile no.s which has fake names i.e real boys name as girl's name (dummy) and incoming calls blocked by lovers. Only user will unlock during parents absence.
parents are not much educated enough to the effect of Facebook and whatsapp. If you want to provide phone to your children give them simple phone where they can not download illicit apps
May Allah (SWT) guide the couple with hidaayah!!! We should not blame them. Islam is not dependable. Enough preacher for Islam.
Congratulations Girl for the best decision.
Police dept to call both both parents with them and discuss face face and try to solve with in their limit and both elders satiso actiso action.
Interference of any dirty criminal groups, anti Indian groups or any communal mind political leader or their organized goonda group department must take strict action and send them behind bar at least for one year period for igniting communal tension.
Trust this will spoil all trouble makers intention and their political benefit gains.
irrespective of religion all middle class citizens are suffering with present red currency exchange procedures. In between communal mind politicians creating problem and planning communal tension is not faith.
God will never accept thought.
Jai Hind!
Well she should not be blamed it is bcoz of unproper teaching if she know teachings it would not had happened
Congratulations to the couple, leave in peace, take care of each other.
we respect all the religions, but above all it's love. loving each other is more important than anything else. They have won the love, may god bless you, LOVE IS GOD.
Cute Couples, happy married life to both.
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