Byju’s, India’s second-largest startup by valuation, announced that it had raised a round of funding led by BlackRock, Sands Capital and Alkeon Capital.
After getting some new investors like Sands Capital, Alkeon and Blackrock, Byju’s is now worth $11.1 billion. The founder of the edtech startup Mr. Raveendran said “We are excited to welcome Blackrock, Sands Capital and Alkeon as our partners”.
During lockdown when most of the startups were struggling to survive, Byju’s was achieving milestones in the business world, with the gradual increase of new students by over 25 million, according to the reports. The startup now has more than 70 million students registered with it and an impressive 4.5 Mn annual paid subscribers.
The new investors has joined the list which already has big names like General Atlantic, Owl Ventures and Tiger Global; which helped the startup to collect a total of $10.8 billion fund in its ongoing fundraising round.
Byju’s introduced learning programs in multiple regional languages like Hindi, Malayalam, Bengali and Gujarati during the lockdown period. Newly added languages became game changer for Byju’s as many students were not able to use the services due to language barriers. The program will help the students with after school learning.
Byju’s also recently acquired Whitehat Jr. which is a Mumbai based coding platform with the motive to expand its business and cover the market with multiple products and services to be offered. This also proves how this ongoing situation has changed the dynamics of learning system not only in the country but across the globe. Investors now have a sudden interest in ed-tech startups as they also witnessed how remote learning replaced classroom learning amid recent lockdown.