Byju’s, an Indian online learning platform, has raised $700 million in new funding, valuing the business at $15 billion. New investors included Blackstone, Abu Dhabi government fund ADQ, and Zoom founder Eric Yuan’s family office, with involvement from existing investors including Silver Lake. Byju intends to use the funds to broaden its product offerings, make strategic acquisitions, and grow its international footprint.
The COVID-19 pandemic has raised a demand for online learning, benefiting Byju’s. The business claims over 100 million registered users, 6.5 million of whom are paid, subscribers. Byju’s has also experienced significant growth in its foreign markets, especially in the Middle East, the United States, and the United Kingdom. Since its inception in 2011, Byju’s has collected a total of $2.5 billion in funding.
Byju’s is not the only ed-tech firm that has received significant funding in recent months. Unacademy raised $440 million in a February funding round, while Eruditus, which offers online executive education courses, raised $650 million in a March funding round. With its strong market position and substantial funding, Byju’s is well-positioned to capitalize on these trends and expand its company.
In recent years, Byju’s has been on an acquisition binge, acquiring businesses such as WhiteHat Jr., Epic, and Great Learning. The latest funds will be used to make strategic acquisitions and extend the company’s product offerings. Byju’s has already expanded into the test preparation and upskilling sectors, and the company plans to use emerging technologies such as artificial intelligence and machine learning to improve its users’ learning experiences.
According to Venture Intelligence data, Indian ed-tech startups collected more than $2 billion in funding in 2020. Byju’s most recent funding round is one of the largest in the Indian startup ecosystem, indicating a rising interest in ed-tech investments. Overall, the latest financing round represents a significant milestone for Byju and the Indian ed-tech industry, and it reflects the increasing global demand for online learning.
Byju’s strong market position, substantial funding, and expansion plans position the business for long-term growth.
