BYJU’s set to close $250 mn funding round soon at flat valuation

Edtech major BYJU’s is in advanced stages to raise $250 million at a flat valuation (at $22 billion the company last announced) as it struggles to repay a $1.2 billion term loan and turn profitable in 2023, reliable sources said on Thursday.

Sources told IANS that the latest funding round is in “final stages of discussion and will be closed soon”.

BYJU’s declined to immediately comment on the development.

However, the $250 million round comes at a lower valuation and according to sources, it cannot be at a “flat valuation” and this is why the edtech company is unable to raise funds it was widely expected to (to the tune of $500 million as reported earlier).