Edtech decacorn BYJU’S reportedly in talks with multiple investors, including private equity firm TPG, to raise over $500 million in funding to help it avoid potential debt issues.
BYJU’S grew to become the country’s most valuable edtech firm as a result of pandemic-induced growth. According to people familiar with the situation, several investment firms, including two Middle Eastern sovereign wealth funds, have begun due diligence on BYJU’s as part of the fundraise. According to the report, the edtech behemoth is looking to raise new funds at its current valuation of $22 billion. Deliberations are currently underway, and it is unclear whether the agreement will be reached.
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