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Barely weeks after raising INR 908 crores or $122 Mn from DST Global, Byju’s has now raised $500 Mn from Silver Lake and other existing investors. According to reports, existing investors include Tiger Global, General Atlantic and Owl Ventures. Byju’s has so far not made any major announcement about this funding but sources claim that the company may make an official announcement in the coming days.
Sources claim that Silver Lake led $ 500 Mn funding is a separate round from last month’s series F round. This latest funding has reportedly not increased the company’s market valuation substantially, with reports claiming the market valuation to be near $10.80 Bn
This is Silver Lake’s second major investment in India after the American PE firm had invested nearly Rs 4,546 crores in Mukesh Ambani’s Reliance Jio platform in June this year. Media speculations are rife that Byju’s is still not done with fundraising from international investors, with speculation being rife that GST Global likely to lead another massive funding round in the coming months.
Byju’s has still not filed any filings with the ROC with regards to its latest $500 Mn capital infusion led by Silver Lake. However, below we’ve decoded Byju’s last two funding rounds that saw participation of GST Global and Bond Capital.
Roc filings revealed that DST Global’s $122 Mn or 908 crores series F funding was done through DST’s three separate funds. Below table shows the complete breakdown of the share allotment done to these three separate funds.
As is evident from the above table, Byju’s allotted 42,666 series F convertible preference shares to DST Global’s three funds for consideration of 908 crore or $122 Mn.
Below is the breakdown of Bond Capital’s $23Mn funding round.
Byju’s ROC filing also disclosed that the company has allotted 1860 fresh equity shares under its ESOP scheme in June. The ROC filing showed that the company has allotted 465 shares each at the face value of Rs 10 to its four employees. The names of these four employees are Arunangshu Bhakta, Brijesh Patel, Smit Patel and Unique Jain
