Byju’s is raising a fresh Rs 908.95 crore ($122.33 million) in funding from DST Global as part of its series F funding round, according to the company’s regulatory filings sourced from business signals platform paper.vc.
Billionaire Yuri Milner-led DST Global is reportedly looking to invest as much as $400 million in Byju’s and the latest funding could be part of a bigger financing round. Byju’s did not comment on the development.
The latest fund-raise comes two months after the Bengaluru-based ed-tech start-up secured an investment from US-based Bond that valued it at about $10.5 billion. Bond is believed to have invested less than $100 million in the company. In all, Byju’s has raised over $1.5 billion from investors including Naspers, Tencent, Verlinvest and Sequoia Capital.
Byju’s has over 57 million registered students and over 3.5 million paid subscribers. It doubled its revenues to Rs 2,800 crore in FY20 from Rs 1,430 crore in FY19 when it posted stand-alone net profits of Rs 20 crore. —FE
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