Sources byju 1b capital 300mraibloomberg
Sources byju 1b capital 300mraibloomberg, the Indian edtech giant, has raised $300 million in a funding round led by 1B Capital and RAIF, according to Bloomberg. The new funding brings the company’s valuation to $16.5 billion, making it one of the most valuable edtech companies in the world.
The Growth of BYJU’s
BYJU’s was founded in 2011 by Byju Raveendran, a former teacher and engineer. The company started as a test preparation platform but has since expanded to offer a wide range of educational content for students from kindergarten to college. BYJU’s has more than 80 million registered users and over 5.5 million paid subscribers. The COVID-19 pandemic has accelerated the growth of online education, and BYJU’s has been one of the biggest beneficiaries. The company reported a 60% increase in revenue in the fiscal year ending March 2020, and it expects to double its revenue this year.
The Future of BYJU’s
With the new funding, BYJU’s plans to expand its product offerings and enter new markets. The company is already present in India, the United States, the United Kingdom, Australia, and the Middle East, but it has plans to expand to more countries in Asia and Africa. BYJU’s also plans to use the funding to make strategic acquisitions. The company has already made several acquisitions in recent years, including Osmo, a maker of educational games for children, and WhiteHat Jr., a coding platform for kids.
BYJU’s has established itself as a leader in the edtech space, and the new funding will help the company continue to grow and expand its reach. With the COVID-19 pandemic driving demand for online education, BYJU’s is well-positioned to capitalize on the growing market.