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India's Byju group raised $ 150 million in a series of investments led by Qatar's sovereign wealth fund, giving basic education technology food for international expansion ambitious.
Byju's is the world's most valuable online education company, and one familiar with the case said the last round of fundraising raised the amount to $ 5.7 billion. The company has 35 million registered users and its revenues tripled to 14.3 billion rupees (209 million dollars) during the fiscal year ended in March, when it became profitable.
According to Byju, he is best placed to offer his model of e-learning programs, such as a recently launched app with Disney for young learners, in countries around the world, including the United States and the United Kingdom.
Byju's said it would use the latest funds to fund "dynamic international market expansion projects," a strategy that involved global acquisitions like the US manufacturer of educational games Osmo.
Previously, the company had attracted a range of international lenders, ranging from South African companies Naspers to Chinese venture capital firm Tencent, to Silicon Valley venture capital firm Sequoia Capital.
"Indian companies in the information technology sector attracting the interest of leading investors demonstrate that India is a pioneer of the digital space in the field of digital learning," said Byju Raveendran, eponymous founder and former celebrity tutor.
For the Qatar Investment Authority, the Qatar sovereign wealth fund, this investment is a plan to regain its status as one of the most ambitious global investors in the Gulf.
The fund recently launched investment projects in North America and Asia, including the creation of a unit to look for investment opportunities in emerging markets.
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