India’s online-education startup Byju’s is raising about $1 billion from new investors including B Capital Group, founded by former Facebook cofounder Eduardo Saverin, Baron Funds and XN, a person familiar with the matter said.
The infusion that values India’s online-lessons platform at about $15 billion is among the largest recent capital increases in India. Existing backers, including private equity giant Silver Lake Management, Owl Ventures and T Rowe Price, are investing about $100 million each in the funding round, which is yet to close, said the person, who did not want to be identified because discussions are confidential.
The startup remains in discussions to close the round with a further $200 to $300 million in the coming weeks at a slightly higher valuation, the person said.
By Saritha Rai
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