Byju’s, the education technology firm, has raised $150 million in fresh funding led by Qatar Investment Authority, the Qatar government’s sovereign wealth fund. The round has also seen participation from San Francisco-based Owl Ventures, a leading investor in education technology.
The recent investment has valued the startup at $5.7 billion, making Byju’s the fourth most valuable private internet company in India, behind Flipkart (bought by Walmart), Paytm and Ola.
The fresh capital with be utilized towards Byju’s aggressive plans of international market expansion and the creation of world-class learning products for students across the globe.
Byju Raveendran, Founder & CEO, Byju’s, said, “Investment from prominent sovereign and pension funds validates our strong business fundamentals. Indian ed-tech firms attracting interest from eminent investors demonstrate that India is pioneering the digital learning space globally. High adoption and 85% annual renewal from small towns and cities shows the increasing acceptance of digital learning as a primary tool for learning at home.”
“This partnership will support and strengthen our vision of creating and delivering personalised learning experiences to students. This will help us explore and leverage our expertise in creating immersive tech-enabled learning programs for students in smaller cities, regions and newer markets,” he added.
Mansoor Al-Mahmoud, CEO of QIA, stated, “This investment underscores QIA’s strong commitment to the education sector and our focus on investing in leading innovators in the TMT industry globally.”
Amit Patel, Managing Director, Owl Ventures, said, “With the world’s largest school-age population of 260 million, India’s education sector is at an inflection point. BYJU’S has been at the forefront of providing quality auxiliary education to new-age learners. This new partnership with BYJU’S reinforces our commitment to creating the best and most unique learning journeys for every student.”
