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Edtech giant Byju's may soon raise $1 billion from ADQ and Oaktree

Once edtech giant closes it, this will be one of the largest funding rounds

Peerzada Abrar Bengaluru

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3 min read Last Updated : May 09 2023 | 9:15 PM IST

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Edtech giant Byju’s is in the process of raising $1 billion in a mix of equity and structured instruments at its current valuation of $22 billion, according to the people familiar with the matter.

This will make it one of the largest funding rounds amid a funding winter and macroeconomic uncertainty, which has resulted in an increasing number of firms laying off employees in a bid to conserve cash and focus on profitability. Byju’s is expected to close the round in the next few weeks.

“The final stages of due diligence are going on. The money is expected to come soon,” said a person familiar with the matter.