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Byju's Turns Into A Decacorn After Bond Fund's Investment

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As another round of fund raising, the education technology start-up Byju's has garnered investment from BOND, Mary Meeker-led tech investment entity. Though, financial contours of the deal are not known, with the latest investment, Byju's is estimated to value at $10.5 billion.

Byju's Turns Into A Decacorn After Bond Fund's Investment
 

Mary Meeker's tech investment firm BOND has invested in edtech company Byju's, marking its first investment in India, the Indian startup said today.

Earlier in February this year, the company raised $200 million from General Atlantic and Tiger Global.

"Endorsed by millions of students, BYJU'S has emerged as a clear leader in education technology," said Mary Meeker, General Partner at BOND. "We are excited to support a visionary like Byju and his team in their quest to continue to innovate and shape the future of education".

Meeker worked with Morgan Stanley for 20 years as a star tech analyst and then moved to leading Venture Capital firm Kleiner Perkins in 2010. Later in the year, Meeker launched her own fund, Bond Capital.

Other investors into the firm include China's Tencent, South Africa's Naspers and the Canadian Pension Plan Investment Board

"We are happy to partner with an investor like BOND," said Byju Raveendran, CEO of the edtech company."This partnership is a testament to the role that BYJU'S is playing in helping students learn better by customizing our platform to their abilities. It also demonstrates the rising global interest in education technology as digital learning becomes increasingly accepted and embraced," he added.

Amid the pandemic, the company has made content on its learning app free for all users and also has come up with live sessions. As per the company, current paid customers at the company stand at 3.5 million, while the total number of registered student base is more than 57 million.

As a feather in its cap, the company was the first to turn profitable in FY19 when its standalone business function tripled its earnings to Rs. 1480 crore.

GoodReturns.in

Read more about: byjus unicorn startup
Story first published: Friday, June 26, 2020, 16:29 [IST]
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