Billionaire Yuri Milner Nears Funding in Indian Startup Byju’s

Billionaire Yuri Milner Nears Funding in Indian Startup Byju’s

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DST Global, the investment company headed by billionaire Yuri Milner, is on the brink of investing the maximum amount as $400 million in Indian online education startup Byju’s, consistent with an individual conversant in the negotiations.

The deal values Byju’s at $10.5 billion and will be signed as early as this weekend, said the person, who didn’t want to be identified because the talks are private. The amount would make Byju’s India’s second-most valuable startup after Alibaba Group Holding-backed financial payments brand, Paytm.

Byju’s was founded by Byju Raveendran, a former teacher, and son of educators, who conceived the smartphone app in 2011.

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Everything we do, we do to brighten the future of our children by making them creative, innovative and better human beings. We shape the future of our children by using simple theme-based stories that are easy to understand, encourage reflection, impart knowledge and drive curiosity. We design story-based courses for children, parents and teachers. Currently, we are focusing on creating content for children (and their parents/teachers) of 0-8 years.