Online tutoring company Byju’s is in talks with several investors to raise $1-1.5 billion at a valuation of nearly $21 billion, two people aware of the development said. Byju’s valuation has skyrocketed as the pandemic has fuelled an online learning boom as parents enrolled kids in online classes, fearful that they will miss out on classroom teaching. With the explosive growth, Byju’s valuation has seen a meteoric rise this year. In June, Byju’s raised $1.5 billion from UBS Group, Abu Dhabi sovereign fund ADQ, Blackstone Group, among others, at a valuation of $16.5 billion. Last December, Byju’s raised about $1.5 billion in three tranches of Series F from investors such as Black Rock and T. Rowe Price at a valuation of $12 billion.

Source: Mint August 15, 2021 19:05 UTC