News Contact Us

E-learning startup Byju's nears $400 million funding from DST Global

Author : Pankaj Singh | Published Date : 2020-08-05 

The lockdowns and the practice of social distance across India have prompted students to opt for online learning. As digital learning takes center stage during this challenging time, e-learning companies like Think & Learn Pvt. Ltd.( Byju's), Unacademy, and Vedantu have been taking proactive steps to strengthen their digital infrastructure.

Recently, Indian e-learning start-up Think & Learn Pvt. Ltd. commonly known as Byju has reportedly announced that the company is near to close $400 million funding from the investment company DST Global.

The deal values Byju at $10.5 billion and can be signed early this weekend. The deal would make the company India's second most valuable startup after Paytm, an Alibaba Group's financial payment brand.

For the record, DST Global is the investment company headed by Russian-Israeli businessman Yuri Milner. The company sponsored a host of high-profile Indian companies such as Flipkart Online Services online store, Ola, the ride-hailing app, Swiggy for food distribution, and Udaans, a start-up for business e-commerce. He is also an early supporter of largest internet firms such as Alibaba, Facebook Inc., and Twitter Inc.

Byju's simplifies the learning through simple teaching methods including games and videos. It was created by Former teacher Byju Raveendran who developed the 2011 smartphone application. 

The app is built for teaching students from kindergarten to 12th-grade students and has over 570 lakh registered users and over 350 lakh subscribers. More than 300,000 new customers are added each month. Byju's revenues doubled from the previous financial year to USD 373 million in March 2020.

This year, Byju's raised $400 million alone and was backed by the Bond Capital co-founded by Mary Meeker, an investment guru in Silicon Valley. Byju is not alone in the race as its competitors including Vedantu, has received $100 million last month from U.S.-based investor Coatue management in online learning. Another leading start-up, Unacademy, is estimated to raise funds at over $1 billion valuation .

Source -https://www.ndtv.com/business/indian-online-education-startup-byjus-nears-400-million-funding-by-billionaire-yuri-milner-report-2273704

About Author

Pankaj Singh

Pankaj Singh

Endowed with a post graduate degree in management and finance, Pankaj Singh has been a part of the online content domain for quite a while. Having worked previously as a U.K. insurance underwriter for two years, he now writes articles for fractovia.org and other online portals. He can be contacted at- [email protected] | https://twitter.com/PankajSingh2605

Related News

President Trump questions ByteDance's move to retain majority stake

Published Date: 2020-09-18         Author: Pankaj Singh

The American President Donald Trump has reportedly raised questions about plans by ByteDance Limited to keep most of the stakes in US operations of popular short video platform TikTok after six Republican senators requested him to reject the deal. Mr. President said that he would be informed on T... Read More

Chinese tech giant Tencent to open its new regional hub in Singapore

Published Date: 2020-09-16         Author: Pankaj Singh

Tencent Holdings, the renowned Chinese technology conglomerate, has reportedly announced that it has selected Singapore as its new regional hub as well as beachhead for the Asian market. Through this, the company has joined its rivals, ByteDance Ltd., and Alibaba Group Holding Ltd., as they look to ... Read More

$100 Mn Raised to Help Melbourne Recover from the COVID-19 Pandemic

Published Date: 2020-09-15         Author: Pankaj Singh

Daniel Andrews, Premier of Victoria announced that the City of Melbourne and the state government will jointly raise a $100 million city recovery fund to help the arts and cultural communities and small and medium-sized businesses recover from the COVID-19 pandemic effect. This summer, the restau... Read More

© 2020 Fractovia. All Rights Reserved