Byju raises 200 million in funding from BlackRock T Rowe
According to sources, Byju’s raised $ 200 million in a new round of funding that raised the company’s valuation to $ 12 billion.
The sources said private equity players BlackRock and T Rowe Price were participating in the new round.
Byju’s (Think & Learn Pvt Ltd) declined to comment, while comments from BlackRock and T Rowe Price could not be obtained immediately.
Byju’s has raised significant capital this year. In June, Byju’s had raised funds from global technology investment firm BOND, while in February, it had raised about $ 200 million in funding from General Atlantic. However, the company had not disclosed the financial details.
In September of this year, Byju’s announced the fundraising from Silver Lake and existing investors, Tiger Global, General Atlantic and Owl Ventures.
At that time, Byju said he had seen more than 20 million new students start learning for free from his platform since the lockdown (which was implemented in March).
The edu-tech space has experienced strong growth globally, with the Covid-19 pandemic serving as an inflection point.
While a number of players have raised new funds from investors, consolidation is also seen in the industry with deals such as Unacademy acquiring PrepLadder for $ 50 million and Byju buying WhiteHat Jr for $ 300 million. .
