Byju’s to boost $150M from UBS, to be valued at $16.5B

NEW DELHI: Edtech business chief Byju’s is elevating practically $150 million from UBS Group AG, that may take its market valuation to $16.5 billion, dependable sources stated on Thursday.

UBS Group AG, a part of UBS Asset Administration, will make investments a complete of round $300 million in Byju’s, individuals aware of the deal instructed IANS.

The main ed-tech firm just lately raised practically $1 billion as a part of its ‘Collection F’ funding that included Baron Funds and Fb cofounder Eduardo Saverin’s B Capital Group.

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The most recent fund-raising got here after Byju’s introduced to accumulate Aakash Academic Providers Ltd (AESL) by a strategic merger. The deal measurement can also be pegged at near $1 billion.

In September final 12 months, Byju’s raised $500 million (roughly Rs 3,689 crore) in a funding spherical led by world expertise funding agency Silver Lake.

Current buyers Tiger World, Normal Atlantic and Owl Ventures additionally participated within the spherical that put the edtech startup’s valuation at $10.eight billion.

The brand new funding got here barely a month after Byju’s acquired WhiteHat Jr, a Mumbai-based coding platform, for $300 million.

Byju’s stated it has seen over 20 million new college students beginning studying from its platform totally free for the reason that lockdown.

The app presently has over 64 million registered college students and 4.2 million annual paid subscriptions.

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