The Indian EdTech giant Byju has raised $296 million in a Series funding round led by Oxshott Venture Fund. Some of its existing investors, Verition Master Fund, Time Capital Advisors, IIFL, and Edelweiss, participated in the Series F funding round. The EdTech Decacorn, Byju’s, now has reached a valuation of $18 billion after the raise. The company bolstered its acquisition spree after it was valued at $16.5 billion in June.
The Decacorn has spent close to $2.6 billion to acquire nine companies this year. However, the new raise follows a $150 million hike from a $1 billion funding round led by Asmaan Ventures and ARK Ncore.
Many believe the new investment to be part of their plan to reach a valuation of $21 billion. Moreover, the company had raised more than $1.8...