- Byju’s announced it has raised $150 million in funding led by Qatar Investment Authority (QIA)
- This funding round reportedly values the company at $5.75 billion.
Byju’s — one of India’s biggest educational technology companies — announced it raised $150 million in funding to expand its reach within India and across international regions.
This round of funding reportedly values Byju’s at $5.75 billion, up from nearly $4 billion last year. Including this round, Byju has raised about $925 million in funding.
Essentially, Byju’s helps school children makes it easier to understand a range of subjects. Byju’s tutors use real-life examples to understand educational content such as pizza slices. And it also helps students preparing for undergraduate and graduate level courses.
According to TechCrunch, this funding round was led by the Qatar Investment Authority (QIA) — which is the sovereign wealth fund of the State of Qatar. And this round also included participation from Owl Ventures.
“Investment from prominent sovereign and pension funds validates our strong business fundamentals. Indian ed-tech firms attracting interest from eminent investors demonstrates that India is pioneering the digital learning space globally,” said Byju’s founder and CEO Byju Raveendran in a statement.
Byju’s is planning to enter the U.S., U.K., Australia, and New Zealand markets. And earlier this year, Byju’s acquired U.S. based learning company Osmo for $120 million.
So far, Byju’s has more than 35 million registered users, of which 2.4 million of which are paid users.
“This investment underscores Qatar Investment Authority’s strong commitment to the education sector and our focus on investing in leading innovators in the TMT (technology, media, and telecom) industry globally,” added QIA CEO Mansoor Al-Mahmoud.
For the fiscal year ended in March, Byju’s generated about $205 million in revenue. And Byju’s is planning to increase this figure to over $430 million this year. And the company is reportedly planning to go public within the next few years.