Bengaluru-based ed tech decacorn Byju’s has closed a $200 million round of funding, Business Standard has reported. The firm’s valuation now stands at $12 billion.
Existing investor private equity firm BlackRock took part in the round along with new investor T Rowe Price.
Byju’s has raised more than $2.3 billion from investors in 18 funding rounds.
In an interview with Business Standard, Byju’s founder Byju Raveendran (pictured) said the company was generating enough cash, but funding by investors would help if the company went for acquisitions, adding: “There are always investors’ conversations going on. We have also raised money, not necessarily because we need it for any immediate purpose – we are not burning cash in India. Having money in the bank sometimes helps you to take [acquisition] decisions faster.”
Date published: 30 November 2020