Edtech Unicorn Byju's, India's most valuable privately held startup, raised $1.2 billion in a term loan from the international market. The edtech firm, valued at $18 billion, had originally planned to raise $700 million, but the round was increased in size.
Byju's is a multinational educational technology company. BYJUs will use the funds for general corporate purposes as well as offshore activities, including to support business growth in North America and fund potential inorganic growth opportunities. The news comes almost a month after BYJU raised $296 million in a new round led by Oxshott Ventures.