After the fresh round of funding Byju, the private education technology company, has become the fourth giant Indian Internet company. The companys valuation has spiked over INR 37,000 crore after the existing investor, General Atlantic, endowed $25 million in the venture, as reported by the Indian daily news.
This funding will make Byjus founder, Raveendran, who holds a stake in the company, one of the richest new generation entrepreneurs. More so, the ed-tech company, Byju has become a major company wherein the founders, Raveendran, his wife, DivyaGokulnath, and brother, Riju, hold more than 30 per cent stake.
Byjus valuation plunges upward after the company got valued $3.6 billion in December last year. In the last round of funding, Naspers Ventures and CPPIB endowed money in the ed-tech company.
Following the major funding round held by Byju, Sameer BrijVerma, Managing Director at Nexus, apprised that the investors are now displaying interest in the Indian ed-tech industry, as reported by the Indian daily news.
I think this is a very positive development for the ecosystem and showcases that investors are valuing the opportunity in the Indian ed-tech. Byjus has also built a good brand along with strong revenue traction over the years, said Sameer BrijVerma.
Byju, the ed-tech company, unveiled that it has been soaring by 100 per cent for last three consecutive years and aims to reach INR 1,400 crore by the end of FY19, as reported by the Indian daily news.