BYJU’s entered the unicorn club in March this year
The company is now valued at $4 Bn
Canada’s Pension Board, Naspers and General Atlantic have participated in the round
Bengaluru-based edtech unicorn BYJU’S has raised a mammoth $328 Mn (INR 2,322.18 Cr) in Series F funding from Canada Pension board’s investment arm CPPIB Investment Board Private Holdings, Naspers Ventures BV and General Atlantic Singapore TL Pvt Ltd. Prior to this round BYJU’S had raised approximately $244 Mn (INR 1,762.65 Cr) since 2008.
With this round BYJU’S valuation has touched $4 Bn (INR 28,918 Cr) according to data platform Paper.vc and Inc42 sources. BYJU’S entered the unicorn club in March this year.
According to Ministry of Corporate Affairs filings accessed by Inc42, here’s the breakdown of the funding round:
- Naspers Ventures BV bought 1,59,352 shares for $171 Mn (INR 1236.65 Cr)
- Canada Pension Plan Investment Board Private Holdings bought 1,13,823 shares for $122.59 Mn (INR 886.43 Cr)
- General Atlantic Singapore bought 27,431 shares for $27.53 Mn (INR 199.12 Cr)
The company’s investors include Tencent, Chan-Zuckerberg Initiative, Verlinvest, Sequoia Capital, Lightspeed Venture Partners, Aarin Capital and others.
Reports of the funding round have differed on the final numbers. According to an ET report BYJU’S raised $400 Mn (INR 2,892 Cr), at a valuation of $3.6 Bn (INR 26,028 Cr). However a Livemint report, said that it has secured $400 Mn(INR 2,892 Cr) at a valuation of “nearly $4 Bn (INR 28,923 Cr).”
The company was founded in 2008 by Divya Gokulnath and Byju Raveendran. The platform offers a learning app, which was launched in 2015 and has learning programmes for students in classes IV-XII along with courses to help students prepare for competitive exams like JEE, NEET, CAT, IAS, GRE, and GMAT.
Update: December 17, 2018, 18:30
BYJU’S has raised $540 million (INR3,867.48 Cr) — its largest funding round till date — led by Naspers Ltd. According to Inc42 sources, the company is now valued at $3.8 Bn (INR 27,215 Cr), making it the fourth largest Indian startup, trailing behind Paytm, Ola and budget hotel chain Oyo Rooms.
The Canada Pension Plan Investment Board (CPPIB) and private equity giant General Atlantic also participated in a round.
