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Bengaluru-based Byju's founder Raveendran becomes new billionaire



Bengaluru, Jul 29 (IANS): With the latest round of $ 150 million funding from Qatar Investment Authority (QIA) – the sovereign wealth fund of Qatar – Byju's has hit $ 6 billion valuation, Making its founder and CEO Byju Raveendran the newest billionaire in the country.

Raveendran holds more than 21 per cent stake in the Bengaluru-based educational technology and online tutorial firm, thus making him a billionaire.

With increased brand awareness Byju's tripled its revenue to Rs 1,430 crore in the financial year 2018-19 and thus turned profitable on a full-year basis.

Raveendran's becoming a new billionaire saying, "Byju's does not want to comment on this."

The fresh round of funding in Byju's included first-ever investment from Owl Ventures at Indian Start-up.

"India has pioneered the digital learning space globally," Raveendran had said earlier.

Byju's has already crossed Rs 200 crore

Transforming the offline to an online learning experience, it has also acquired Osmo, a Palo Alto-based education game making company.

The ed-tech firm 1 to 12 in India.

In one of its biggest win, from September onwards, Team India wants to wear Byju's on their jerseys. Chinese mobile-maker Oppo wants to be replaced by Byju's.

Team India wants to have fun on the West Indies tour which starts from August 3 and ends on September 2. Once again, the South Africa tour of India begins September 15, Byju's wants to take over the jersey.


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