Page 16 - Great Learning News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Byju Raveendran, founder of educational technology (edtech) firm Byju's, has injected around Rs 4,000 crore of personal capital into the company in recent months. This move comes as the company grapples with challenges, including securing fresh capital, delays in financial reporting, and legal disputes with lenders. 'Raveendran has pledged personal property to assist the company in dealing with the crisis. 'He conveyed to employees that despite perceptions of being a billionaire, he has reinvested a major portion of his wealth back into the company,' said a person familiar with the matter.

Says company is engaged in active negotiations with the lenders to reach a resolution

Though there was no comment from the company, sources said the amounts were credited to the employees on Monday. Last week, Byju’s had said that there was a delay in processing salary for some employees which constitute less than 5 per cent of its workforce due to unexpected technical glitch

Sources says Byju Raveendran is confident of pulling through via asset sales, without depending on capital from existing investors

Raveendran also addressed concerns from on changes in its business plans and optimisation of cost – both on people and business front – to withstand the current crisis.