New Delhi, 5/10: In a major development, Edtech major Byju’s has raised about Rs 2,200 crore in funding from a clutch of investors including Oxshott Venture Fund X LLC, XN Exponent Holdings Ltd and others, according to regulatory documents.
Over the past few months, Byju’s has raised funding from a slew of investors that has placed the edtech major among the most-valued start-ups in the country. The latest round is estimated to have pushed the company’s valuation to about $18 billion, up from a valuation of $16.5 billion in June this year.
“…in order to meet further funding requirements for business expansion, the company proposes to offer and issue up to 77,174 series F compulsorily convertible cumulative preference shares…at a securities premium of Rs 2,85,062 under private placement…,” according to Registrar of Companies filing shared by market intelligence firm Tofler.