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)
Byju becomes the 4th most valuable startup in India as it raises $540 million of a gigantic funding round led by Naspers Ltd. The edtech startup was valued at $3.6 billion. The Canada Pension Plan Investment Board and private equity firm General Atlantic also participated in the round.
“While near-term profitability is important for us, as a company our main focus