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Byju’s raised $ 460 million fund under the leadership of this investment venture, read the full story

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Representative Image [Instagram]
Representative Image [Instagram]

Educational technology and online tuition firm Byju’s has raised nearly $ 460 million in an ongoing Series F round led by MC Global EdTech Investment Holdings LP. According to an exclusive report by web portal Entrackr, this is the first round of investment of the company for the year 2021.

According to the report, the company has approved a premium of Rs 2,37,326 per share to show allocation and amount of 1,40,233 Series F CCPS at face value of Rs 10. Entrackr also reported in its exclusive report last week that Byju’s is close to raising $ 600–700 million. This would increase the valuation of this company by $ 15 billion.

Representative Image [Instagram]

Representative Image [Instagram]

Half of the latest investments were led by MC Global Edtech Investment Holdings LP. Which is worth $ 224 million. It was attended by a total of nine investors with B Capital investing approximately $ 77 million with its global and Asia subsidiaries.

The report further states that Byju’s will receive more than $ 150 million. This will also increase its valuation and may reach $ 15 billion. Talking about the revenue of the company, FY 2020 Byju’s has claimed to touch the revenue figure of Rs 2,800 crore. However, the company is yet to file its financial statement for FY 2020 with the Ministry of Corporate Affairs. The company, founded in 2011 by Biju Ravendran and Divya Gokulnath, had 4.5 million paying users on the company’s platform as of September 2020 update.

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