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Edtech giant, Byju’s is raising ₹2,200 crore funding from Oxshott Venture Fund, along with the participation of Edelweiss Private Investments Trust, Verition Multi-Strategy Master Fund, IIFL Private Equity Fund, XN Exponent Holdings, and MarketX Ventures, among others.
According to the company’s MCA filings, a total of 77,174 Series F CCPS shares at a premium of ₹2,85,062 will be allotted to the investors in this fundraise. Out of the 77,174 shares being allotted in this round, a majority of 42,095 shares will be allotted to Oxshott Venture Fund for an investment of ₹1,200 crores.
A BusinessLine query to Byju’s did not elicit a response till the time of publication.
Earlier in September, Byju's raised ₹1,093 crore funding from Asmaan Ventures, Mirae Asset, and ARK Ncore among others, according to the company’s MCA filings.
Also read: Byju’s turns focus on building in-house technology innovations
Founded in 2015, Byju’s claims to be serving 100 million students around the world today. In the past funding rounds, Byju’s has been backed by marquee investors such as General Atlantic, Sequoia Capital, the Chan-Zuckerberg Initiative, Naspers, Silver Lake, and Tiger Global.
Byju’s Lab
Further, Byju’s has recently announced the launch of its innovation hub Byju’s Lab to focus on building in-house technology solutions on the back of a team of AI and ML specialists. Broadly, the lab will focus on bringing deeper personalisation and democratisation into a student's learning journey.
Over the last year and a half, Byju’s has acquired three edtech companies in the U.S. – Osmo, the learning system for creating healthy screen time experiences, Epic, the digital reading platform and K-12 creative coding platform, Tynker. All three acquisitions map back to Byju’s goal of investing $1 billion in the U.S. edtech market over the next three years.
Overall, the company has officially announced ten acquisitions in the edtech space including Tynker, Gradeup, TutorVista, Edurite, Math Adventures, Osmo, Whitehat Jr, Aakash Education Services, Epic, and Great Learning.
The development was first reported by Inc42.