Silver Lake Invests $500 Million in Byju’s

Global Technology Company Silver Lake invested a huge sum of $500 Million (approximately Rs 3,689 crore) in India’s Leading Edtech Company Byju’s.

This announcement about magnanimous Investment in Edtech made on Tuesday (8 September).

Several Big Investors Tiger Global, General Atlantic and Owl Ventures participated in this round, because of that Edtech startup’s valuation raised to $10.8 Billion. Recently, Byjus acquired WhiteHat Jr., a Mumbai based coding platform, for $300 million and here comes another big Investment within a month.

“We are excited to welcome a strong partner like Silver Lake to the BYJU’S family,” Byju Raveendran, Founder and CEO of Byju’s said in a statement.

“We are fortunate to be in a sector of positive relevance during this crisis. This has brought online learning to the forefront and is helping parents, teachers and students experience and understand its value.”

Responding positively to the closure of schools and colleges, Byju’s made Content on the app free for all the students. Edtech company also started a new Initiative of after-class learning space. With this Initiative, company recently added 20 Million new students on the platform.

“We are delighted to lead this investment and partner with Byju and his impressive team of education technology pioneers in their mission to help children in India and around the world achieve their true potential,” said Greg Mondre, Co-CEO of Silver Lake.

“We look forward to working with them as BYJU’S builds on and accelerates its compelling growth trajectory by forging new partnerships and continuing to cultivate a comprehensive ecosystem of innovative educational offerings.”

App comprises of 64 million registered students and annual subscription of 4.2 million. The revenue also has doubled Rs 1,430 crore to Rs 2,800 crore in fiscal 2019-2020.