By Manish Singh
Indian online learning startup Byju’s has added one more high-profile name to the list of its backers: Bond.
In a statement on Friday, Bangalore-based Byju’s said it had raised an undisclosed amount from the VC fund co-founded by Mary Meeker. The first-female founded VC firm’s check valued the nine-year-old Indian startup at $10.5 billion, according to a person familiar with the matter. This is the first time Bond has backed an Indian startup.
TechCrunch reported early last month that Byju’s was in talks with some investors to raise as much as $400 million at $10 billion valuation. TechCrunch understands that Bond is investing under $100 million in Byju’s. A Byju’s spokesperson declined to comment on the startup’s valuation and size of the investment.
The new capital makes Byju’s the second most valued startup in India, ahead of budget-lodging firm Oyo, which was last valued at $10 billion. Indian financial services giant Paytm was valued at $16 billion late last year when it raised its $1 billion Series G.
Source: Tech Crunch