Edtech startup BYJU’S raised $49 million from its Singapore parent entity Byju’s Holdings 1 Pte Ltd

October 2, 2022

, By Team SNFYI

Share via:

India’s most valued edtech startup BYJU’S raised $49 million from its Singapore parent entity Byju’s Holdings 1 Pte Ltd.

Byju’s Holdings 1 Pte Ltd has been allocated 11,335 Series F Compulsory Convertible Cumulative Preferences at an issue price of INR 3.5 Lakh each. This is the first instalment of a $160 million (INR 1,305 crore) capital raise approved by the edtech behemoth’s board of directors. The total income of Byju Raveendran’s edtech startup fell 3.3% to INR 2,428.3 Cr in FY21 from INR 2,511.7 Cr the previous year, owing primarily to a change in revenue recognition for its streaming services. Previously, BYJU’S calculated its revenue from these streaming services at the start of the contract.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Previous News

Indian metaverse ventures plans to enter UAE in the midst of Dubai’s high-decibel campaign

Next News

Bharti Airtel is set to launch 5G services in eight Indian cities

Popular

More Like this

Edtech startup BYJU’S raised $49 million from its Singapore parent entity Byju’s Holdings 1 Pte Ltd

October 2, 2022

, By Team SNFYI

India’s most valued edtech startup BYJU’S raised $49 million from its Singapore parent entity Byju’s Holdings 1 Pte Ltd.

Byju’s Holdings 1 Pte Ltd has been allocated 11,335 Series F Compulsory Convertible Cumulative Preferences at an issue price of INR 3.5 Lakh each. This is the first instalment of a $160 million (INR 1,305 crore) capital raise approved by the edtech behemoth’s board of directors. The total income of Byju Raveendran’s edtech startup fell 3.3% to INR 2,428.3 Cr in FY21 from INR 2,511.7 Cr the previous year, owing primarily to a change in revenue recognition for its streaming services. Previously, BYJU’S calculated its revenue from these streaming services at the start of the contract.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Website Upgradation is going on for any glitch kindly connect at office@startupnews.fyi

Previous News

Indian metaverse ventures plans to enter UAE in the midst of Dubai’s high-decibel campaign

Next News

Bharti Airtel is set to launch 5G services in eight Indian cities

More like this

Popular

Upcoming Events