Byju’s, an online learning platform, raised USD 250 million in a funding round from existing investors including Qatar Investment Authority – valuing the firm at USD 22 billion – which is equal to its post-money valuation from the USD 800 million fundraisers in March 2022.

The new funds are expected to generate profitable growth and a positive social impact in FY2023 amidst unfavorable macroeconomic conditions. The company believes that the synergies and growth prospects from its portfolio of acquired assets as well as its plans to lay off 5% of its workforce (~2,500 employees) across teams and reduce its marketing budget are expected to improve its financials in terms of “revenue, growth, and profitability.”

Analyst QuickTake: In April 2021, founder Byju Raveendran shared plans to go public in India or the US, and in December 2021 unconfirmed reports revealed that the company was in advanced talks with Churchill Capital's special-purpose acquisition company (SPAC) to raise USD 4 billion at a valuation of USD 48 billion in an IPO in the US in mid-2022. However, by September 2022, Byju’s stated that it had postponed its plans for going public this year due to uncertain macroeconomic conditions and is considering an IPO in 9–12 months.