Jul 24, 2016

Byju's Education App startup to raise $50 million

Byjus funding

Online Education Technology Startup  Byju's Learning app today said it is in advance talks with investors Sequoia Capital & Sofina to  raise $50 million (Rs 335 crore) in the second round. Byju's will be the largest fund-raising in the education start-up segment in India.

First Round Funding:
Byju’s had raised $75 million in a funding round, in which both investors had participated.

How will Byju's use these fresh funds?
The money will be used to fuel international expansion (UK & US) and acquisitions.

Byju's Userbase
The company says it has over 200,000 paid subscribers, with 30,000 added in the last one month alone.  The app enjoys unprecedented popularity among K12 students with  90% annual renewal rates from the students.

Headquarters: Bangalore (aka Bengaluru), India

Growth:
Revenue in June stood at Rs 30 crore and Byju’s says it is already profitable and growing at a pace of 15 per cent month-on-month. The firm also registers high engagement, with the app being used by students for 40 minutes a day on an average, bolstering the idea of e-learning in India.



Tags: BYJU'SFUND RAISINGS, EQUOIAS OF INA EDUCATION TECHNOLOGY


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