Byju's Recently Raised $250 Million (Approximately 2000 Crores) In A Rights Offering From Its Existing Shareholders At The A Capitalization Of $22 Billion.
According To A Business Release, Byju's Has Secured $250 Million In A New Investment Round. This Round Included Existing Investors Such As The Qatar Investment Authority.
Byju Said That Company Will Be Profitable Before March 2023, Prompting The Investment Round.
Byju's Creator, Byju Raveendran, Stated In A Statement That The Firm Is Presently At A Stage Of Growth When The Economics Of Size And Unit Economics Both Work In Its Favor, Implying That If Money Is Invested Now, It Will Lead In Profitable Growth And Generate An Effect That Will Last.
He Went On To Suggest That, Despite The Negative Macroeconomic Conditions, Byju's Strongest Year In Terms Of Profit Sales, And Growth Will Be 2022-2023.
In Addressing The Shareholders, The Ceo Stated That The Firm's Valued Investors' Ongoing Support Confirms Their Route To Profitability And Underlines The Effect They Have Achieved Thus Far.
Notably, The Qatar Investment Agency Earlier Sponsored A $150 Million Investment In Byju's In July 2019, In Which Owl Ventures Also Participated. Other Investors Include Sequoia Capital India, The Verlinvest, Alkeon Capital Management, Tencent, Sofina, Naspers Ventures, Sands Capital Management, The Canada Pension Plan Investment Board , And Lightspeed Venture Partners.
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