India’s online education startup Byju’s raised funding from BlackRock Inc., Sands Capital and Alkeon Capital, as the company expands to meet growing demand for its services.
The round totaled about $300 million and values Byju’s at about $11 billion, according to a person familiar with the matter. Existing backers Tiger Global, General Atlantic and Owl Ventures also invested, the company said, while private equity giant Silver Lake put money into the startup earlier this month.
Investors are increasing support for India’s edtech startups as the country’s pandemic challenge spreads and closes schools. Byju’s was founded by Byju Raveendran, a former teacher and son of educators, who conceived the smartphone app in 2011.
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The company, whose investors also include Facebook founder Mark Zuckerberg’s Chan Zuckerberg Initiative, caters to students from kindergarten through