It is predominantly because of UBS. Blackstone funding
Bygu’s has become India’s most valued internet startup with a valuation of $16.5 billion in its current funding round. This has happened after Byju’s surpassed the finance technology firm Paytm’s $16 billion valuation.
This happened after the online learning platform raised $350 million from UBS, private equity giant Blackstone, Abu Dhabi state fund ADQ, Phoenix Rising and Zoom according to the regulatory filings.
Because of an increase in demand for online education, Byju’s has grown over $1.5 billion dollars in the last 18 months. In the last one year, Byju’s has acquired Whitehat Jr., Toppr, Aakash, Great Learning, and Gradeup. This company was founded by Byju Raveendran. Byju’s investors include Naspers, General Atlantic, B Capital, Blackrock and Sequoia Capital.
Incidentally, Byju’s has been one of the most profitable unicorns in India.