Byju’s to raise funds at 90% valuation cut: Report

Embattled Indian edtech startup Byju’s is looking to raise more than $100 million from existing stakeholders but at a steep 90% discount to its $22 billion valuation in its last funding round in 2022, Bloomberg News reported on Tuesday.

Byju’s, facing a host of legal and financial woes, is looking to sell fresh shares, including to founder Byju Raveendran, to raise funds to pay vendors and stabilise its business, Bloomberg reported, citing people familiar with the matter.