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“It takes a lot of time to change consumer behaviour but the pandemic amplified everything,” says Mr Verma. Prior to that, India s education technology market was “evolving”, he says. Companies like his saw themselves as “working for the future”. India s EdTech sector is expected to grow in value to $30 billion in the next decade from about $735 million to $800m in 2019, according to a report published in April by RBSA Advisers. Along with the boost from the pandemic, “the introduction of EdTech has coincided with growing internet penetration with availability of cheaper smartphones and low data prices”, says Rajeev Shah, managing director and chief executive of RBSA Advisers. ....
The Bangalore-based startup was founded by Byju Raveendran. (File photo) NEW DELHI: Byju’s, India’s online education pioneer, is raising about $150 million from UBS Group AG at a valuation of about $16.5 billion, multiple people familiar with the deal said. The funding will make it India’s most-valuable startup. An entity that is part of UBS Asset Management is making the investment. It is in discussions to invest additional money, which would take its total investment in Byju’s to about $300 million, the people said, who asked not be identified as the negotiations are private. The startup could rope in another backer to take the fresh funding to $400 million, one of the people said. ....
Byju’s to raise $150M from UBS, to be valued at $16.5B UBS Group AG, part of UBS Asset Management, will invest a total of around $300 million in Byju s, people familiar with the deal told IANS. By IANS| Posted by Minhaj Adnan | Published: 29th April 2021 1:35 pm IST New Delhi: Edtech industry leader Byju’s is raising nearly $150 million from UBS Group AG, that will take its market valuation to $16.5 billion, reliable sources said on Thursday. UBS Group AG, part of UBS Asset Management, will invest a total of around $300 million in Byju’s, people familiar with the deal told IANS. ....