Edtech giant Byju's is raising $300 mn, valuation may touch $18 bn

In June, Byju's became India's most valuable unicorn startup with a valuation of $16.5 billion, surpassing fintech company Paytm's $16 billion valuation

Byju’s is raising about Rs 2,200 crore ($300 million) as part of a larger round of new investment as the world’s most valuable edtech company focuses on expanding its business in global markets and explores to do more acquisitions.

According to industry sources, the new funding may value Bengaluru-based Byju’s at $18 billion, up from a valuation of $16.5 billion in June this year. In June, Byju's became India's most valuable unicorn with a valuation of $16.5 billion, surpassing fintech company Paytm's $16 billion valuation.

The company is proposing to allot  77,174 Series F compulsorily convertible cumulative preference shares of the face