India edtech startup BYJU now valued at USD 5.5 billion

Bangalore: The valuation of Byju’s, India’s most valued ed-tech startup, has reportedly touched $5.5 billion as a result of the ongoing funding round, said media reports.

The Bengaluru-based startup’s valuation reportedly soared by USD 2 billion to USD 5.5 billion in the ongoing Series F funding round,  a rare development in a single round, as investors clamoured for a piece of Byju’s that reported dizzying growth, said a report in Mint.

Byju’s has so far raised Rs 3,159.4 crore ($460.8 million) in the round, led by investors such as South Africa’s Naspers, private equity firm General Atlantic, and Canada Pension Plan Investment Board, the report said citing data sourced from business information platform Paper.VC.

Last week, Byju’s had said it received an investment of $150 million (approximately Rs 1,028.61 crore) led by Qatar Investment Authority (QIA), the sovereign wealth fund of the State of Qatar.

This round also included the participation from ed-tech investor Owl Ventures, marking its first investment in an Indian startup, a statement said.

This new round would support the company’s aggressive plans of international market