BYJU, India’s largest adtech firm, is raising INR 2,200 crore (about $ 296 million) in a new round of funding, valued at ला 18 billion, according to data released by research firm Toffler.
Investors include Oxshot Venture Fund, Edelweiss Private Investment Trust, IIFL, Variation Multi-Strategy Master Fund, XN Exponent Holdings and MarketX Ventures.
According to the company’s filing with the Ministry of Corporate Affairs, BYJU will allocate a total of 144 Series F Mandatory Convertible Preference Shares (CCPS) at a premium price of Rs 2,85,062. As per the filing, a majority stake of Rs 42,095 crore will be allotted to the Oxshot Venture Fund for an investment of Rs 1,200 crore. Edelweiss will invest Rs 345 crore, XN Exponent Holdings Rs 150 crore, Variation Multi-Strategy Master Fund Rs 147 crore, MarketX Ventures Rs 144 crore and IIFL Rs 111 crore.
The new funding comes just weeks after BYJU raised 150 million from Asman Ventures, Mirae Asset and ARK Ncore among others.
The investment was bought by BYJU’s US-based coding startup Tynker last month for about $ 200 million. Adtech Giant has already spent more than 2 billion on mergers and acquisitions in 2021. Overall, the Bengaluru-based firm has made nine acquisitions in the Adtech space this year and has gained more than 15 since its inception.
BYJU’S has raised more than 8 1.8 billion since its inception. Earlier this year, it bought Akash Educational Services Ltd., the largest coaching institution for high school students with more than 200 centers, for about 1 1 billion. He has bought digital reading platform for Epic for kids, including professional upskilling platform Great Learning and others, in over $ 1 billion in cash and stock deals. The company has also recently acquired the online test preparation platform GradeUp to increase its presence in the rapidly growing online competition exam preparation category.
BYJU claims to have 100 million registered students with 6.5 million paid subscribers on its platform. The company reported an 82.31% increase in its FY20 revenue to Rs 2,381 crore in FY20 over Rs 1,306 crore in the previous year.
Meanwhile, BYJU’S is in talks with several investors to raise $ 1.5 billion for valuations over $ 21 billion. The company is also preparing a public listing. According to media reports, the company may file IPO documents in the second quarter of next year and is looking for a valuation of $ 40 to $ 50 billion.
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