Byju’s in funding talks with TPG, West Asian sovereign funds as debt weighs

Byju’s is in negotiations with investors including TPG to raise more than $500 million, a much-needed capital infusion that could help the world’s most valuable edtech startup stave off potential debt issues.

Several investment firms including TPG and two Middle Eastern sovereign wealth funds have begun due diligence on the Indian company, which is hoping to keep its valuation steady at about $22 billion during the financing, people familiar with the matter said. That’s despite a global tech rout that’s prompted layoffs in the thousands, depressed global investment activity and shaved billions off the valuations of once high-flying tech startups.