Famed Silicon Valley investor and analyst Mary Meeker’s Bond Capital has invested in the education technology startup Byju’s at an evaluation of $10.5 billion. The step initiates as the sector continues to get successful consumer transaction and strong investor interest in the midst of the pandemic.
The new quotation is a 30% increase from the $8-billion tag Byju’s badged in January, which ultimately makes it the second-most valued startup in the country after Paytm. Also, with this, Byju’s has entered the club of ‘decacorn’ startups – those valued at over $10 billion.
However, the company did not revealed the quotation or the investment size, while sources guessed somewhere below $100 million. The deal will be the first investment in India for Bond Capital, which raised a $1.2-billion fund last year and has sponsored Australian graphic design startup Canva and UK’s digital banking app Revolut.
“This crisis has brought online learning to the forefront and has helped parents, teachers and students alike to experience and understand the importance of it,” said founder and CEO Byju Raveendran in a statement.