Education technology company Byju’s has raised $122 million from Russian billionaire Yuri Milner’s investment fund DST Global. The financing is part of its ongoing funding round.
Byju’s is allotting 42,666 Series F preference shares at an issue price of Rs 213,042.13 per share, show regulatory filings, according to Entrackr, a new age media platform, which reported about Byju’s latest fundraising on Wednesday. Byju’s was reportedly in talks with DST to raise around $400 million and the new financing could be a part of those efforts, according to sources.
However, there has been no change in Byju’s valuation after this funding, according to the sources. For Byju’s, the capital has come after a month of raising funding from Silicon Valley investor and analyst Mary Meeker’s Bond Capital, which helped the Bengaluru-based firm become a decacorn and cross $10.5 billion valuation. Byju’s declined to comment on the latest development.
Yuri Milner, who is known as one of the best technology investors, is an early backer of internet giants such as Facebook, Twitter and Alibaba. His investment firm DST Global has also backed top Indian companies including e-commerce firm Flipkart, ride-hailing company Ola and food delivery firm Swiggy. Earlier, Milner had also backed consumer genetics company 23andMe, earth imaging firm Planet Labs and Cadre, a real-estate tech startup co-founded by Jared Kushner, son-in-law of the US President Donald Trump.