Funding Alert
BYJU’S Raises $50M From India Infoline Finance And Maitri EdTech
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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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Clean-label food brand Anveshan has raised Rs 150 crore (nearly $16 million) in a Series B funding round led by Vertex Ventures Southeast Asia & India. The round also saw participation from International Finance Corporation (IFC), Swiggy co-founder Sri Harsha Majety, and existing investors including Wipro Consumer Care Ventures, Titan Capital Winners Fund, Force Ventures, and boAt co-founders Aman Gupta and Sameer Mehta. Entrackr had exclusively reported the development last week. According to Entrackr’s estimates, the funding valued the company at over $90 million. The fresh capital will be used to strengthen manufacturing capabilities, accelerate product development, expand offline distribution, and deepen its digital presence. The company also plans to invest in sourcing infrastructure, procurement systems, quality assurance, and testing capabilities while expanding partnerships with micro entrepreneurs and traditional producers. Founded in 2020 by Kuldeep Parewa, Akhil Kansal, and Aayushi Khandelwal, Anveshan sells minimally processed food products including A2 bilona ghee, cold-pressed oils, raw honey, atta, and other traditional nutrition-focused products. The startup operates through a network of rural producers and micro entrepreneurs across the country. Anveshan claims to be operating at an annual revenue run rate of Rs 280-300 crore and is targeting Rs 1,000 crore in revenue over the next 24-30 months. The company plans to expand its atta portfolio, strengthen its owned digital channels, scale offline distribution, and continue investing in product innovation. For the fiscal year ended March 2025, Anveshan reported a 64.6% increase in operating revenue to Rs 77.08 crore from Rs 46.84 crore in FY24. Its losses widened to Rs 11.88 crore in FY25 from Rs 5.74 crore in the previous fiscal year....
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