New Delhi, April 4 (Ians) Edtech major Byju’s is all set to raise around $500-$700 million in its latest funding round at a flat valuation of $22 billion, led by a couple of top private equity firms and sovereign wealth funds, which can happen anytime soon this month, reliable sources told Ians on Tuesday.
The funding round, anticipated for quite some time amid the deepening funding winter, will not only help Byju’s pay off some of its existing debt but also consolidate and grow its business further, according to people privy to the development.
“The round is led by top Vc firms and some existing investors in Byju’s are also keen to participate, which may take the funding round to its maximum,” sources told Ians.
“To meet the regulatory framework, a solid due diligence has been done by the Byju’s and the investors in taking the round to its concluding stage,...
The funding round, anticipated for quite some time amid the deepening funding winter, will not only help Byju’s pay off some of its existing debt but also consolidate and grow its business further, according to people privy to the development.
“The round is led by top Vc firms and some existing investors in Byju’s are also keen to participate, which may take the funding round to its maximum,” sources told Ians.
“To meet the regulatory framework, a solid due diligence has been done by the Byju’s and the investors in taking the round to its concluding stage,...
- 4/4/2023
- by News Bureau
- GlamSham
New Delhi, April 4 (Ians) Edtech company Byju’S has appointed Ajay Goel as its chief financial officer (CFO), as it aims to strengthen the company’s financial operations and achieve profitability amid myriad of problems.
Goel, who has worked with companies like Vedanta, Ge, Coca Cola and Nestle, will be responsible for overseeing financial strategy and management for Byju’S.
“With his extensive experience and diverse skill-set, Goel is the ideal candidate to take on the role of Chief Financial Officer as we continue to chart the course of sustainable growth in this exciting new phase,” said Byju Raveendran, Founder and CEO, Byju’S.
Goel will work closely with the founders and the senior leadership on strategy development, capital planning and financial analysis.
The company has already missed its March 2023 deadline to achieve group-level profitability, as it envisioned in its earnings in October last year.
Last month, in a setback to Byju’s,...
Goel, who has worked with companies like Vedanta, Ge, Coca Cola and Nestle, will be responsible for overseeing financial strategy and management for Byju’S.
“With his extensive experience and diverse skill-set, Goel is the ideal candidate to take on the role of Chief Financial Officer as we continue to chart the course of sustainable growth in this exciting new phase,” said Byju Raveendran, Founder and CEO, Byju’S.
Goel will work closely with the founders and the senior leadership on strategy development, capital planning and financial analysis.
The company has already missed its March 2023 deadline to achieve group-level profitability, as it envisioned in its earnings in October last year.
Last month, in a setback to Byju’s,...
- 4/4/2023
- by News Bureau
- GlamSham
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