Byju’s $800 Million Funding Round Yet to Close

Sumeru Ventures and Oxshott have committed to investing approximately $250 million in the edtech firm's latest funding round, but Byju's has yet to receive funds. The company blamed the delay on "macroeconomic changes," and said it expects the capital to be available by August.

Meanwhile, founder Byju Raveendran has completed his $400 million personal investment as part of the company's $800 million funding round, according to a statement from Byju.
The founder group, which includes Raveendran, his wife Divya Gokulnath, some of their family members, as well as top management and employees, owns more than 25% of the company and is expected to increase to around 29% after the round is completed. Raveendran has obtained a $400 million credit line from various financial institutions to increase his stake.

Byju’s said Oxshott wasn't leading the round and that it was one of the last investors to come in for that round.

“The remainder ($250 million of $800 million) is expected from Sumeru and Oxshott by the end of August, and the delays are because of macroeconomic reasons. The latest funding values Byju's at $22 billion," a spokesperson for the company said in the statement.