Byju’s struggles to close $800 million round – Times of India

Online education provider Byju’s struggling to shut down funding The $800 million round depends on valuation as a global technology route. investors are involved Sumeru Ventures And little-known firm Oxshot has not moved about $250 million of the targeted amount due to “macroeconomic reasons,” a Byju’s spokesman said Monday without elaborating. He said both the firms should come by the end of August. Founder Byju Ravindranhas The startup completed an injection of approximately $400 million as part of the round, the spokesperson said.
Delayed funding for India’s most valuable startup is likely to spark renewed concern about India’s consumer technology industry, where public valuations on key players zomato Paytm has crashed in recent months. The full fundraising would value the startup at $22 billion, and ravindraanA rare example was when an Indian founder participated in a venture capital round in a late-stage startup. Sumeru Ventures did not respond to an email seeking comment.
Byju’s, backed by Bond Capital Naspers And Tiger Global ManagementSeeking to expand overseas through major acquisitions.