At a $23 billion valuation, Byju's Is Likely To Raise Over $500 million.
According to individuals familiar with the situation, edtech giant Byju's is poised to raise more than $500 million (about Rs 3,900 crore) in less than a week at a value of approximately $23 billion.
The funds would be used by the corporation to make acquisitions in the US, they said.
The business is in talks with the Qatar Investment Authority and the Sovereign Wealth Funds (SWF) of Abu Dhabi.
A result of raising, according to the sources, $400–500 million and $250–350 million, respectively.
"With a few investors, Byju's is at an advanced level of conversation. Within a week, the business should raise more than $500 million.
The deal is anticipated to conclude at a value of around $23 billion One of the individuals, who wished to remain anonymous, told PTI.
Byju's chose not to comment on the situation.
The money is part of the company's strategy, according to the source, to utilize the capital for inorganic development, particularly in the US.
The business has previously paid $500 million for the US-based reading platform Epic and $200 million for the online learning platform Tynker.