Edtech platform Byju's has raised $350 million dollars valuing it at $16.5 billion, making it India's most valuable start up. The learning portal has doubled it's valuation in 18 months from $8 billion in January 2020 when it raised funds from Tiger global.
The online learning platform has raised funds from Zoom's founder Eric Yuan along with UBS, private equity giant Blackstone, Abu Dhabi state fund ADQ and others. With this fresh round of funding Byju's has raised over $1.5 billion in the last 18 months.
Byju Raveendran has been on an acquisition spree in the last year with Whitehat Jr, competitor Toppr, offline test preparation firm Aakash. Raveendran recently said the platform's revenue grew by 100% in the financial year ended March 2021. This would translate into revenue of around Rs 5,600 crore, compared to Rs 2,800 crore in the year before.
The current valuation of $16.5 billion outpaces PayTM from the pole position of India's most valued startup.