Canada Pension board’s investment arm CPPIB Investment Board Private Holdings, Naspers Ventures BV and General Atlantic Singapore TL Pvt Ltd conferred $328 Mn (INR 2,322.18 Cr) loan to Bengaluru-based edtech unicorn BYJU’S. Prior to this round BYJU’S had raised approximately $244 Mn (INR 1,762.65 Cr) since 2008.
With this round BYJU’S valuation has touched $4 Bn (INR 28,918 Cr) according to data platform Paper.vc and Inc42 sources. BYJU’S entered the unicorn club in March this year.
According to Ministry of Corporate Affairs filings accessed by Inc42, here’s the breakdown of the funding round:
Canada Pension Plan Investment Board Private Holdings bought 1,13,823 shares for $122.59 Mn (INR 886.43 Cr)
General Atlantic Singapore bought 27,431 shares for $27.53 Mn (INR 199.12 Cr)
The company’s investors include Tencent, Chan-Zuckerberg Initiative, Verlinvest, Sequoia Capital, Lightspeed Venture Partners, Aarin Capital and others.
Reports of the funding round have differed on the final numbers. According to an ET report BYJU’S raised $400 Mn (INR 2,892 Cr), at a valuation of $3.6 Bn (INR 26,028 Cr). However a Livemint report, said that it has secured $400 Mn(INR 2,892 Cr) at a valuation of “nearly $4 Bn (INR 28,923 Cr).”
The company was founded in 2008 by Divya Gokulnath and Byju Raveendran. The platform offers a learning app, which was launched in 2015 and has learning programmes for students in classes IV-XII along with courses to help students prepare for competitive exams like JEE, NEET, CAT, IAS, GRE, and GMAT.