What's the news?
Byju's has raised about $350 Mn in latest funding round, becoming India's most-valued startup with a valuation of $16.5 Bn.The company raised funds from UBS Group, Blackstone, Abu Dhabi's ADQ, Zoom founder Eric Yuan's family office and Phoenix Rising - Beacon Holdings, the Economic Times reported, citing the company's filings with Registrar of Companies.
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The startup plans to use the fresh capital, in part, to acquire more startups. Byju’s, which acquired Indian physical coaching institute Aakash for nearly $1 Bn earlier this year, is conducting due diligence to buy and online learning startup Toppr and has also engaged with U.S.-based Epic.