Byjus Becomes 4th Most Valuable Indian Startup | BeYourBoss

An recent funding round worth $200-300 million is expected to boom Byju’s valuation at $3.5 billion, making the fourth most valuable startup in India after Paytm, Ola and Oyo Rooms.

In its latest round, which is on the verge of closing, Byju’s is set to raise $200-300 million in primary and secondary capital from new investors such as private equity giant General Atlantic. The secondary transaction may happen at a lower valuation, due to exit of some investors, including Sequoia Capital, may secure either partial or full exits.

Online tutoring startup Byju’s (Think & Learn Pvt. Ltd) can be valued at $3.5 billion at the close of its ongoing funding round, three people aware of the developments said, “Heavy interest from top venture and private-equity investors boosts its valuation too higher than originally expected”. Raising funds at this valuation will make Byju’s India’s 4th most valuable startup, behind digital payments firm Paytm (One97 Communications Pvt. Ltd), cab-hailing service Ola (ANI Technologies Pvt. Ltd) and budget hotel aggregator Oyo Rooms (Oravel Stays Pvt. Ltd).

If the funding round closes at a valuation of $3.5 billion, it would triple the company’s value from its previous round. Also, it can built its status as one of the breakout startups from India in the past five years.

Mint reported, In July and September that, Byju’s was in talks to raise fresh funds at a valuation of over $2 billion. Since then, investor demand has proposed.

In the past three years, Byju’s has totally fulfilled its investor expectations. The company, which started as an offline teaching centre in Bengaluru, launched its online application in 2015 to increase its user base. It currently offers two separate learning apps-
1. Flagship app caters to students from Classes VI to XII
2. Targets students of Classes IV and V.

For younger students, this online education startup has the plan to launch another app soon.

The move to a digital education platform has been profitable for the company. In June, Byju’s reported that it touched ₹100 crore in monthly revenue and raised its annual revenue target for this year to ₹ 1,400 crore. The company claims that it is among the few profitable Indian startups.

Byju’s remarkable journey is also part of a broader boom in the online education space in India’s burgeoning startup ecosystem. More than a dozen education deals amounting to nearly $500 million are expected to be closed before December.