The funding round values the company at around $16.5 billion post-money with investors like Intel Capital, Sapphire Ventures and Alibaba Group. …reports Sanjeev Sharma
Edtech company Byju’s is now India’s most valuable unicorn startup with a valuation of $16.5 billion, surpassing fintech company Paytm’s $16 billion valuation.
As per CB Insights data, as of June 2021, Byju’s is the 11th most valuable startup in the world.
The total number of unicorns worldwide is 708 with a valuation of $ 2319 billion. Chinese company Bytedance, the parent company of TikTok, is the most valuable startup in the world with a valuation of $140 billion.
Byju’s investors include Tencent Holdings, Lightspeed India Partners and Sequoia Capital India. It has recently raised $350 million from UBS, private equity giant Blackstone, Abu Dhabi state fund ADQ, Phoenix Rising and video conference firm Zoom’s founder Eric Yuan.
One97 Communications, the parent company of Byju’s, has a valuation of $16 billion with investors like Intel Capital, Sapphire Ventures and Alibaba Group.
A unicorn company, or unicorn startup, is a private company with a valuation over $1 billion. As of June 2021, there are more than 700 unicorns around the world. Popular former unicorns include Airbnb, Facebook and Google. The variants include a decacorn, valued at over $10 billion, and a hectocorn, valued at over $100 billion, CB Insights said.
Oyo Rooms is valued at $9 billion with investors like SoftBank Group, Sequoia Capital India and Lightspeed India Partners.
The National Stock Exchange is valued at $6.5 billion with investors including TA Associates, SoftBank Group and GS Growth.
Ola Cabs is valued at $6.3 billion and has investors like Accel Partners, SoftBank Group and Sequoia Capital.
Zomato is valued at $5.4 billion with investors including Sequoia Capital and VY Capital. Another food delivery chain, Swiggy, is vaued at $5 billion and its investors include Accel India, SAIF Partners and Norwest Venture Partners.
Internet software company Dream11 is valued at $5 billion with investors including Kaalari Capital, Tencent Holdings and Steadview Capital.
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Logistics company Udaan is valued at $ 3.1 billion and has investors including DST Global, Lightspeed Venture Partners and Microsoft ScaleUp.
Fintech company Razorpay is valued at $3 billion with investors like Y Combinator, Tiger Global Management and Matrix Partners India.
Fintech company Pine Labs is also valued at $3 billion with investors namely MasterCard, Temasek and PayPal Ventures.
Logistics company Delivery is another firm that is valued at $3 billion with investors including Times Internet, Nexus Venture Partners and SoftBank Group.
Policybazaar is valued at $2.4 billion, Renew Power at $2.28 billion, fintech company CRED at $2.2 billion, consumer company FirstCry at $2.1 billion, software company Meesho at $2.1 billion, while Sharechat is also valued at $2.1 billion.
Edtech copany Unacademy is valued at $2 billion, ecommerce company Urban Company is valued at $2.1 billion, BillDesk at $1.9 billion and DigitInsurance at the same number.
Lenskart is valued at $1.5 billion, Five Star Business Finance at $1.4 billion, Rivigo at $1.07 billion, Snapdeal at $1 billion as also Inmobi, Ola Electric, Cars 24, Daily Hunt, Infra Market and Groww.
Meanwhile, Ed-tech firm BYJU’S on Wednesday announced a partnership with Google to aid continuity of online learning for both teachers and students.
As part of the partnership, Google Workspace for Education will combine BYJU’S’ pedagogy to empower teachers in their journey towards digital transformation. Built on the Vidyartha platform, this partnership will provide direct access to the ed-tech company’s extensive math and science pedagogy and visually-rich learning solutions, including chapter-wise slides, readymade assignments, data banks, summary docs, handouts, tests, and more.
“The significant rise and acceptance of online learning in the last one year has led to the swift digitisation of our education system. Teachers and students had to adapt to online learning overnight and are now rapidly discovering its potential,” said Mrinal Mohit, Chief Operating Officer, BYJU’S, in a statement.
“Through our partnership with Google, we are aiming to aid this digital revolution and equip our educators with the necessary technological and learning assets to ensure continuity of education,” Mohit added.
The platform also features Google Classroom, offering simplicity and flexibility, along with a security experience for all educators. Besides the Google Workspace for Education features that include Docs, Sheets, Slides, and Forms, teachers will get access to Google Meet — Google’s premium video conferencing solution — where up to 100 people can participate using Google Workspace for Education Fundamentals, for free.
“We are thrilled to partner with BYJU’S in reaching out to schools across the country to bring rich and interactive English-based learning solutions that complement school curriculum, and look forward to working to make this offering available in Indian languages later,” said Bani Dhawan, Head of Education – South Asia, Google.
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