Online tutoring startup BYJU's, the Bangalore based startup continues to take massive strides in the segment. In a fresh investment round, the firm has secured $400 million which takes the valuation of the firm close to $4 billion, making it 4th most valuable startup in the country. Paytm, Ola and Oyo are the top three in the list.
CPP Investment Board, Naspers Ventures, General Atlantic led the fresh round along with the other existing ventures. The details on same have come out as the firm has provided the details with the Registrar of Companies (RoC). The total amount raised by the firm now stands at $666.6 million as per Crunchbase. The other top backers of the firm include the names of Tencent, Verlinvest, Chan-Zuckerberg Initiative, Sequoia Capital, Lightspeed Venture Partners, Aarin Capital.
As per reports, Byju's will use the fresh funds for their expansion in the U.S., U.K., and Australian market, starting from Australia where it is set to start operating in the next 3-6 months time. Started in 2008 as an offline coaching class by Byju Raveendran and Divya Gokulnath the company launched their mobile app in 2015 and since then there is no looking back for the firm. The firm has a flagship app aimed at students from Class VI to XII. Another app aimed at Class IV and V is also doing exceedingly well.
In terms of finances, the firm claimed to have generated revenue of INR 100 Crore in June. It also says that it is targeting to generate about INR 1400 Crore annually.
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