Byju’s in talks to raise over $600 Mn at $15 Bn valuation

Byju’s is in talks to raise over $600 Mn in a new financing round that values the Indian startup at $15 Bn, up from about $11 Bn late last year, and $5.75 Bn in July 2019, two people familiar with the matter told TechCrunch.

Byju Raveendran, the co-founder and chief executive of the eponymous startup, informed some existing investors last month that he would be raising a sizeable round this month, a person familiar with the matter said. The new round is in advanced stages of talks and its size could become bigger; some new investors are expected to lead and participate, the people said.

“ The latest fundraise is largely primary in nature as Byju’s would utilise the capital to close these acquisitions. It is also eyeing some buyouts in the US. The proceeds from the fundraise will also be used to expand globally..,” said a person cited earlier in the report.

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