BYJU’S raises $49 million from its Singapore holding company
- ByStartupStory | October 3, 2022
Edtech startup BYJU’S is raising $49 Mn from its Singapore parent entity Byju’s Holdings 1 Pte Ltd. The edtech giant has received $49.4 Mn ( INR 403.8 Cr) from its Singapore holding entity as per the latest regulatory filings by General Atlantic-backed BYJU’S.
BYJU’s has raised a whopping $800 Mn at a valuation of $22 Bn. The round was led by Byju Raveendran himself where he had committed to invest $400 Mn to further increase the stake to 25% in the company. This round saw participation from BlackRock, Vitruvian Ventures, among others. The company is yet to receive money from Sumeru Ventures which also had participated in this $800 Mn round.
The company has reported a consolidated loss of INR 231.6 Cr in FY20.
The startup’s total income declined 3.3% to INR 2,428.3 Cr in FY21 from INR 2,511.7 Cr in the previous year. The edtech giant’s total expenses rose 144.5% to INR 7,027.4 Cr from INR 2,873 Cr in FY20 on the back of heavy marketing and acquisition costs. The company for marketing had spent INR 2,251 Cr, which comprised 32% of the total expenses BYJU’S witnessed in FY21.
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