Page 2 - Sumeru Ventures News Today

Byju Raveendran, founder and CEO of education-technology start-up Byjus, has been in crisis mode since his company was raided in late April.

In late April, Indian officials in plainclothes raided the Bengaluru offices of Byju's, seizing laptops and publicly linking the world's most valuable education-technology startup with possible foreign exchange violations.

With a planned $1 billion equity fundraise from Middle Eastern investors still in limbo, Raveendran broke down in tears defending his company, according to people who attended the calls.

Indian firm has struggled to overcome issues with liquidity

Raveendran had been in crisis mode for months. Apart from the ED raids, his once high-flying tutoring startup failed to file its financial accounts on time.

BYJU'S has reportedly raised $250 million in fresh funding at a flat valuation of $22 billion through structured instruments.

BYJU'S has reportedly raised $250 million in fresh funding at a flat valuation of $22 billion through structured instruments.

BYJU'S has reportedly raised $250 million in fresh funding at a flat valuation of $22 billion through structured instruments.

Which fund manager in the world will put money into a company that hasnt filed its annual account?

The $1 billion funding round, which is expected to close in a month, will help BYJU’S to prepay a part of the $1.2 billion term loan B it had raised in 2021