Byju's to raise $150M from UBS, to be valued at $16.5B

UBS Group AG, part of UBS Asset Management, will invest a total of around $300 million in Byju's, people familiar with the deal told IANS. The leading ed-tech company recently raised nearly $1 billion as part of its 'Series F' funding that included Baron Funds and Facebook co-founder Eduardo Saverin's B Capital Group.

Edtech industry leader Byju's is raising nearly $150 million from UBS Group AG, which will take its market valuation to $16.5 billion, reliable sources said on Thursday.

UBS Group AG, part of UBS Asset Management, will invest a total of around $300 million in Byju's, people familiar with the deal told IANS.

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The leading ed-tech company recently raised nearly $1 billion as part of its 'Series F' funding that included Baron Funds and Facebook co-founder Eduardo Saverin's B Capital Group.

The latest fund-raising came after Byju's announced to the acquisition of Aakash Educational Services Ltd (AESL) through a strategic merger. The deal size is also pegged at close to $1 billion.

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In September last year, Byju's raised $500 million (approximately Rs 3,689 crore) in a funding round led by global technology investment firm Silver Lake.

Existing investors Tiger Global, General Atlantic and Owl Ventures also participated in the round that put the ed-tech startup's valuation at $10.8 billion.

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The new investment came barely a month after Byju's acquired WhiteHat Jr, a Mumbai-based coding platform, for $300 million.

Byju's said it has seen over 20 million new students starting learning from its platform for free since the lockdown.

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The app currently has over 64 million registered students and 4.2 million annual paid subscriptions.

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