Byju’s Strives to Secure $250 Million Amidst Scrutiny over Delayed Funding

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sumeru oxshott 250m 800m marchsinghtechcrunch

Byju’s, India’s most valuable startup, has been embroiled in a quest to secure the remaining $250 million of its much-anticipated $800 million funding round announced back in March. The company’s spokesperson confirmed the delay in receiving the committed funds, attributing it to prevailing macroeconomic factors. While Byju has been operating as a prominent player in the ed-tech space, the unresolved funding situation has now come under the lens of scrutiny.

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The waiting game continues for Byju’s as Sumeru Ventures and Oxshott, the entities responsible for financing the outstanding $250 million, have yet to fulfill their commitment. Despite the challenges, the spokesperson remains optimistic, anticipating the capital to arrive in its entirety by the end of August.

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The Bengaluru-headquartered startup’s prominence in the world of tech is well-known, operating as one of the largest tech giants on the global stage. Notably, in March, Byju’s made headlines when it proudly announced securing a staggering $800 million funding round. The round was led by the visionary founder, Byju Raveendran, adding to the startup’s success story.

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Byju Raveendran himself demonstrated his unwavering belief in the venture by contributing a significant portion of the funding. Leveraging his Byju stake, he secured $400 million through loans, showcasing both his confidence in the company’s potential and his commitment to its growth.

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The startup’s current valuation stands at an impressive $22 billion, and this remarkable achievement can be attributed to its stellar lineup of backers. Notable names like Prosus Ventures, Tiger Global, Sequoia Capital India, and Lightspeed Venture Partners have all shown their support for Byju, solidifying its position in the tech industry.

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However, recent media reports have raised questions about the missing $250 million and the legitimacy of the funding’s existence and operations. Indian news outlet, The Morning Context, was the first to bring this matter to light, further intensifying the scrutiny surrounding the situation.

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In conclusion, Byju continues its journey toward securing the remaining funding amidst external scrutiny and macroeconomic challenges. As the startup strives to achieve its vision of transforming education through technology, the outcome of this funding endeavor will undoubtedly play a crucial role in shaping its future endeavors. The global ed-tech landscape eagerly awaits the resolution of this intriguing financial saga.

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