Byju’s raises $300 million

Edtech giant Byju’s has raised around $300 million as part of a larger round of new investment, valuing the company at $18 billion, up from $16.5 billion in June this year when Byju’s became the most valuable start-up in India after surpassing fintech giant Paytm. TechCrunch reports the new investment is part of a larger venture funding round that is expected to increase the company’s valuation above $21 billion. The new round was led by Oxshott Capital Partners with participation from XN Exponent, Edelweiss, Verition Master Fund, IIFL and Time Capital Advisors.

The latest funding comes when Byju’s is reportedly communicating with bankers about potentially filing for an IPO sometime next year that some experts say may value the start-up at up to $50 billion if it lists next year, TechCrunch reported in August.