Edtech main Byju’s is learnt to have closed $250 million fundraising from Davidson Kempner Capital and is in the method to shut one other funding spherical of $750 million by the top of this month, sources conscious of the event stated on Friday.
The firm has raised $250 million at a flat valuation of $22 billion, sources stated.
“Byju’s has efficiently closed a $250 million fundraising from Davidson Kempner Capital Management.
“This spherical is a part of an ongoing $1 billion funding spherical that has attracted participation from each current and new traders and will likely be raised on the present valuation of $22 billion,” a supply conscious of the event informed PTI.
Byju’s declined to touch upon the event.
The firm raised $250 million from current traders and Qatar Investment Authority in October final yr.
The firm was valued at $22 billion in the funding spherical of $800 million, introduced in March 2022.
“Byju’s is in the method to shut one other $750 million from a sovereign fund by the top of this month.
“It can also be a part of ongoing $1 billion fundraise plan of the corporate,” one other supply stated.
Byju’s co-founder Divya Gokulnath had in October introduced the corporate’s plan to show worthwhile by March 2023.
Byju’s reported a lack of Rs 4,588 crore in 2020-2021 in comparison with Rs 232 crore in 2019-20.
The firm recorded a drop in income for monetary yr (FY) 2021 to Rs 2,428 crore from Rs 2,511 crore in FY’20.