“It has been 21 months since our last external capital raise, during which we have cut our burn and worked to become a lean organisation, razor-focused on execution,” he added. ‘My Head Is Bloody, but Unbowed’, BYJU’s Founder and CEO BYJU Raveendran Quotes ‘Invictus’ Poem by William Ernest Henley in His Letter to Shareholders.
In a regulatory filing, the edtech company said a “material uncertainty” existed and flagged “significant doubt on the company’s ability to continue as a going concern”
The beleaguered Indian education provider is asking more than $100 million from existing investors through a fresh issuance of shares slated for next month, at a price that values the firm at less than $2 billion, people familiar with the matter said. That’s down from $22 billion at its previous round in late 2022.