Byju's Raises $250 Million From Existing Investors in Fresh Funding Round: All Details

Byju's has raised $250 million (roughly Rs 2,100 crore) from its existing investors, including Qatar Investment Authority, in a fresh funding round, the edtech major said on Monday.

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The funding round follows Byju's recent announcement to become profitable by March 2023. "Byju's raises USD 250 million (roughly Rs 2,100 crore) in a fresh funding round.

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Existing investors, including QIA, (were) part of this round," the company said in a statement. The edtech firm's founder and CEO Byju Raveendran said that the company is now at that "sweet spot" of its growth story where both the unit economics and the economies of scale are in its favour.

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"This means the capital that we now invest in our business will result in profitable growth and create sustainable social impact.

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Regardless of the adverse macroeconomic conditions, 2022-23 is set to be our best year in terms of revenue, growth, and profitability.

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Continued support from our esteemed investors re-affirms the impact created by us so far, and validates our path to profitability," Raveendran said.

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Byju's Raises $250 Million From Existing Investors in Fresh Funding Round: All Details

Byju's recently announced plans to consolidate all its K10 India subsidiaries into one unit and lay off about 2,500 employees.

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Byju's has raised $250 million (roughly Rs 2,100 crore) from its existing investors, including Qatar Investment Authority, in a fresh funding round, the edtech major said on Monday.

Brought to you by Trickyenough

The funding round follows Byju's recent announcement to become profitable by March 2023. "Byju's raises USD 250 million (roughly Rs 2,100 crore) in a fresh funding round.

Brought to you by Trickyenough

Existing investors, including QIA, (were) part of this round," the company said in a statement. The edtech firm's founder and CEO Byju Raveendran said that the company is now at that "sweet spot" of its growth story where both the unit economics and the economies of scale are in its favour.

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"This means the capital that we now invest in our business will result in profitable growth and create sustainable social impact.

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Regardless of the adverse macroeconomic conditions, 2022-23 is set to be our best year in terms of revenue, growth, and profitability.

Brought to you by Trickyenough

Continued support from our esteemed investors re-affirms the impact created by us so far, and validates our path to profitability," Raveendran said.

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