Edutech firm Byju's to raise $50 million

Funding to help it expand into the UK, US

Bengaluru-based education technology (edutech) firm Byju’s says it is in advanced stages of talks to raise $50 million (about Rs 336 crore) in funding, which will help it expand into the US, the UK and other countries over the next few months.

Byju’s says it will utilise the newly raised capital to make acquisitions in markets where it plans to enter. The news of fresh fund-raising comes roughly four months after the company raised $75 million from Sequoia Capital and Sofina.

“We are humbled by the rising popularity and high engagement for our product with 90 per cent