Byju’s gets $31 million from General Atlantic, Tencent

Byju’s, Indian ed-tech startup, has raised around $31 million or Rs 215 crore from its existing investors General Atlantic and Tencent Holdings at a valuation of over $5 billion. The company’s filings show that General Atlantic has subscribed to 15,187 compulsorily convertible cumulative preference shares (CCCPS) at a premium of Rs 1,14,060 per share for about $25 million (Rs 173.24 crore) while Tencent via Proxima Beta Pte Ltd has been issued 5,023 CCCPS at a premium of Rs 82,882 per share for $6 million (Rs 41.63 crore).
Last December, Byju’s had raised over $540 million in a funding round led by Naspers Ltd. Other investors included Canada Pension Plan Investment Board (CPPIB) and General Atlantic.

Elvis Gomes