Byju’s is raising about $1 Bn from new investors, including former Facebook co-founder Eduardo Saverin's B Capital Group, Baron Funds and XN, reported Bloomberg. The infusion that values Byju's at about $15 Bn is among the largest recent capital increases in India.
According to the report, a source familiar with the matter confirmed that existing backers, including private equity giant Silver Lake Management, Owl Ventures and T Rowe Price, are investing about $100 Mn each in the funding round, which is yet to close.The startup remains in discussions to close the round with a further $200 to $300 Mn in the coming weeks at a slightly higher valuation, the report added.
In a recent interview, co-founder Byju Raveendran elaborated on company's IPO plans and said that going public is a clear option for Byju's, considering the company's growth. "We are seriously thinking of an 18-24 months timeline to look at a public offering. But it can take a bit longer since we are in no hurry and will look at the right market timing," he told the publication.