Education is the prime-most need that helps society to understand what’s actually going on & what’s next. The major area that has witnessed a huge growth is ed-tech. People cannot afford to look down upon that area even it’s a pandemic.
The players in the market segment have created a stiff competition in the market making sure that every company gives best in order to survive and sustain. The market is about to close to $ 1.96 billion in the coming timeline of 5 years. Their strategies have to be top-notch and therefore a major player comes up with a big news.
The big name in the market; BYJU’s has bagged another raise of $ 460 million. Who, What, When and How can be understood from the details. Let’s dive into the article?
The company was launched in an application format in the year 2015 by Byju Raveendran. They are the country’s largest ed-tech company offering learning programs for schools as well the major competitive exams. The general courses offered are :
- Class 1-12 courses in different subjects
More than 75 million downloads
an average time of 71 minutes daily.
More than 5 million users in a month.
The second most valuable start-up of the country.
The company is supported up by the Chan Zuckerberg initiative, Tiger Global Management and Bond capital. The major focus of the company is to offer customized learning where the individuals can learn & engage in complete clarity regarding what they want to study. They try to offer a great world class virtual experience by making this learning more engaging & efficient through the application of tech related innovative features.
DETAILS ABOUT FUNDING
The company has raised almost $ 1 billion in the year 2020.
In 2021; this is by far the second funding in the country. Currently the company is going on with its F series funding in which it has contributed up to $ 460 million. The round was led by MC Global Edtech Investment Holdings which stands at a valuation of $ 13 billion.
The other prominent investors that participated are:
- B Capital
- Baron Global Advantage Fund
- XN Exponent Holding
- Arison Holdings
- TCDS (India)
- TIGA (India)
The company has issued a portfolio that contains 1,40,233 shares which are convertible having a face value of Rs. 10 having a premium of Rs. 2,37,326.33. The shareholding pattern of top three holders in this round is as follows:
|MC Global||68,163 shares (1.73 %)|
|B Capital||23,622 shares|
India has seen a vast graph that gave enough freedom to grow the educational environment. From acquiring White Hat Jr. to making plans to acquire more strong brands in the market; BYJU’s has been a leader & initiator.
The times when it started; something like that was not imagined. people cannot even see a substitute to offline education; what they saw was just some add-ons in the form of tuitions.
But now; you cannot imagine education without this. A lot of brands and a lot of funding which is more than $ 2.2 billion has been in the core of this sector. This round of funding is making BYJU’s more strong and is a signal to other players to take their strategic step ahead.