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Byju’s raises $200 million from Tiger Global

The company’s valuation is estimated to have hit close to $8 billion after the latest funding round, sources said. The funds will be utilised for product development and business expansion, the company said Thursday.

Byju Raveendran, Byju’s, Byju revenue, Byju funding, Byju fresh funding round; Byju valuation, Indian express Byju Raveendran

Ed-tech start-up Byju’s has raised about $200 million from Tiger Global Management in a fresh round of financing, taking its total funds tally to nearly $1.19 billion. The company’s valuation is estimated to have hit close to $8 billion after the latest funding round, sources said. The funds will be utilised for product development and business expansion, the company said Thursday.

Byju’s last raised $150 million in funding, led by Qatar Investment Authority (QIA), in July 2019 at an expected valuation of around $5.5 billion. In December 2018, the had company mopped up $540 million, led by Naspers and the Canada Pension Plan Investment Board.

The firm did not comment on the amount of funds raised. However, founder & CEO Byju Raveendran said: “We are happy to partner with a strong investor like Tiger Global Management. They share our sense of purpose and this partnership will advance our long-term vision of creating an impact by changing the way students learn.” —FE

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First published on: 10-01-2020 at 03:21:53 am
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