Edtech major Byju’s raised $250 million from its existing investors

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Edtech major Byju’s raised $250 million from its existing investors as it strives for profitability and improved unit economics amid layoffs and restructuring.

Regardless of the adverse macroeconomic conditions, Raveendran predicted that 2022-23 would be Byju’s best year in terms of revenue, growth, and profitability. The country’s largest edtech firm has been in turmoil for the past six months, with questions raised about the delay in releasing audited results. It finally released its FY21 results in September, after changes to its revenue recognition method increased the company’s losses to Rs 4,588 crore.

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Edtech major Byju’s raised $250 million from its existing investors

Edtech major Byju’s raised $250 million from its existing investors as it strives for profitability and improved unit economics amid layoffs and restructuring.

Regardless of the adverse macroeconomic conditions, Raveendran predicted that 2022-23 would be Byju’s best year in terms of revenue, growth, and profitability. The country’s largest edtech firm has been in turmoil for the past six months, with questions raised about the delay in releasing audited results. It finally released its FY21 results in September, after changes to its revenue recognition method increased the company’s losses to Rs 4,588 crore.

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.

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