BYJU’S Raises $50M From India Infoline Finance And Maitri EdTech
- ByStartupStory | June 22, 2021
India’s most leading EdTech platform BYJU’s continues to attract investor interest and raises another $50 million from India Infoline finance (IIFL Finance) and Maitri EdTech. BYJU’s raises $50 million in a Series F round. Following this round, EdTech has raised over $1.5 billion in 2021. BYJU’s had recently raised $350 million from Blackstone, Zoom founder Eric Yuan, ADG – a state fund of Abu Dhabi, UBS Group, Blackstone, and Phoenix Rising-Beacon Holdings. This round valued the startup at around $16 billion.
Since January 2020 the valuation of BYJU’S has doubled, in 2020 it secured $200 million from Tiger Global at a post-money valuation of $8 billion. BYJU’S has marquee investors in its capable, which include Chan-Zuckerberg Initiative, Tencent, Sequoia Capital, Tiger Global, Bond Capital, Yuri Milner, Tiger Global, Silver Lake, and Owl Ventures among others.
After COVID-19 hit, the demand for online learning has boomed, the user base of BYJU’S has surged to 80 million with 5.5 million paid subscribers. There is also an 86 percent course renewal rate. BYJU has able to attract 45 million users to its platform in the first six months of the pandemic. It has emerged as one of the top education apps during the lockdown, according to sensor tower.
In April this year, BYJU’S completed the acquisition of Aakash Educational Services, an offline tutorial set up in a deal valued at around $1 billion. It also acquired WhiteHat Jr last year for $300 million. BYJU’s leading EdTech platform has emerged as the most favored segment among investors, especially with the advent of the pandemic.
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