Photo Credit : Byju's/Twitter,
Edtech major Byju’s has raised USD 250 million (about Rs 2,000 cr) in a fresh funding round from US-based investment firm Davidson Kempner Capital Management, according to media reports.
This development comes weeks after its office premises were searched by Directorate of Enforcement (ED) officials. India’s federal financial investigation agency has been looking into the edtech unicorn’s compliance with the Foreign Exchange Management Act (Fema) for 2011-23.
The company is in advanced discussions with a bunch of global investors, including West Asia-based sovereign wealth funds, to close the funding round, media reports revealed.
While the company has managed to maintain its valuation of $22 billion, the new funding round is a heavily structured one, tied down to the public listing of its subsidiary Aakash Educational Services, sources said
