Byju’s clears payment to Aakash, completes $800-million fund raise

Edtech firm Byju’s said on Monday that it has completed the due payment for the acquisition of Aakash Educational Service Ltd. (AESL), and received the majority of the $800-million fund announced in March. The company is estimated to have paid around $950 million for the acquisition.

“Our fundraising efforts are on track and the majority of the 800 million has been already received. The balance is also expected soon. Our payments to Aakash are closed and the audited financial results are going to be announced in the next 10 days,” Byju’s said in a statement.