BYJU'S raised $460 mn in Series F round

Edtech unicorn BYJU'S has raised $460 mn as part of its ongoing Series F funding round led by MC Global Edtech Investment Holdings at a valuation of $13 bn. Many other investors who participated in this round were B Capital, Baron Global Advantage Fund, XN Exponent Holding, Arison Holdings, TCDS (India), and TIGA (India).

MC Global took the majority share in this round of funding with allotment of 68,613 CCPS followed by Baron at 24,535 and B Capital at 23,622. BYJU'S said that the amount raised will be used for working capital requirements and business expansion.

This is the first fund raise for BYJU'S this year as it had raised over $1 bn in 2020. According to Indian Private Equity and Venture Capital Association (IVCA), edtech funding grew from $522 mn in 2019 to an all-time high of $2.2 bn in 2020.

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