Edtech large Byju’s has grow to be essentially the most invaluable startup in India after elevating about $350 million in a brand new tranche of funding from UBS Group and Zoom founder Eric Yuan, Blackstone and others that valued the Bangalore-based agency at $16.5 billion (post-money).
In a brand new submitting, Byju’s revealed that scores of traders together with Abu Dhabi authorities fund ADQ and Phoenix Rising had collectively invested about $350 million within the startup. The brand new valuation helps Byju’s surpass Paytm, which was final valued at $16 billion, for the crown place within the Indian startup ecosystem. (Paytm is presently engaged on exploring the general public markets and eyeing to boost as a lot as $3 billion and eyeing a valuation of as much as $30 billion.)
The brand new tranche of funding is an element of a bigger spherical that Byju’s kickstarted earlier this 12 months