MENU × BUSINESS
Banking And InsuranceCryptocurrencyDigital MarketingErpFood And BeveragesHealthcareLegalMarketing And AdvertisingMedia And EntertainmentMetals And MiningOil And GasRetailTelecom
TECHNOLOGY
Artificial IntelligenceBig DataCloudCyber SecurityE CommerceEducationGaming And VfxIT ServiceMobileNetworkingSAPScience And TechnologySecuritySoftwareStorage
PLATFORM
CiscoDatabaseGoogleIBMJuniperM2MMicrosoftOracleOracleRed Hat
LEADERSHIP
CEO ReviewCompany Review
MAGAZINE
ASIA INDIA
STARTUPS CLIENT SPEAK CONTACT US

The Silicon Review Asia

Expansion Plan: Byju’s Raises $150 million in its New Funding Round

Expansion Plan: Byju’s Raises $150 million in its New Funding Round

Byju’s has completed its unnamed funding round by receiving capital worth $150 million from two investors. The latest funding round for the edtech startup will help the company to expand the reach of its learning app to various global markets including India.

The latest funding, led by Qatar Investment Authority, has valued Byju’s at $5.75 billion. Till date, the startup has raised almost $925 million in fundings.

Other investors such as Owl Ventures also took part in the funding round. Owl Ventures have pumped incapital in an Indian company for the first time.

According to Byju’s, the fresh capital infusion would be used to tap and expand in international markets. Earlier, the company intended to foray into the markets of New Zealand, the U.S., and the UK.

The company’s rival in India is Unacademy, a Bangalore-based company, which specializes in providing graduation level courses to students. Unacademy raised $50 million in June this year.

In the last fiscal year, Byju’s produced revenue of $205 million. The company plans to launch its IPO in the coming years, a Byju’s executive confirmed.

According to stats, India’s online education market would grow to $1.96 billion by 2021.

YOU MAY ALSO LIKE

Tariff plans will cost higher from the next financial year as telecom companies are gearing up to increase rates

The ongoing Covid pandemic had significantly increased the number of mobile and internet users worldwide. The high amount of usage is expected to drop...

Business Travelers to Stay at Singapore’s Changi Airport Bubble

Singapore’s open economy depends heavily on tourism and business. But its vibrant but small economy has been hurting as the circumstances due to...

Countries in Asia-Pacific are marching towards ‘green recovery’ amidst Covid-19 crisis

2020 has been an unforgettable year for many of us. The ongoing Covid crisis has reminded people that it is very important to have an uninterrupted an...

Department of Telecommunication to announce the new schedule for 5G trials

Department of Telecommunications (DoT) is all set to announce the new schedule for 5G trials. The Dot made this decision after being pulled by the par...

RECOMMENDED