Decoding Byju’s latest funding round and acquisitions of Hello English, GeoGebra

Edtech company Byju’s was recently in the headlines for an $800 million funding round in which the Bengaluru-based company’s founder and CEO Byju Raveendran also invested $400 million.

While Byju’s did not divulge much details of the new round, Fintrackr has decoded it through the company’s regulatory filings. The company has passed a special resolution to allot 219,635 Series F preference shares for a total cash consideration of Rs 7425 crore or close to $1 billion.

Byju Raveendran has infused Rs 3,000 crore in this round followed by Oxshot Capital, Sumeru Global Digital Fund, AMS Investment Management, Bearnaise Lux SCSP,  BlackRock, and Redspring Innovation Partners which invested Rs 1200 crore, Rs 1147.5 crore, Rs 960 crore, Rs 600 crore, Rs 400 crore, and Rs 5.02 crore respectively.

Following the fresh issue of shares, the promoters’ group which includes Byju Raveendran and family now retain 22.13% stake in the company. According to a TechCrunch report, Byju Raveendran has financed his $400 million investment in Byju’s through a debt he raised from multiple international banks.

As per Fintrackr’s estimates, Byju’s will be valued at around $21.42 billion.

Apart from the funding round, Byju’s has also disclosed details about its recent acquisitions including Hello English and GeoGebra. Entrackr had exclusively reported about the potential acquisition of Hello English by the Bengaluru-based company.

As per the regulatory filings, Byju’s has allotted shares worth Rs 80.5 crore to shareholders of Hello English as consideration for a swap of 90,351 shares in the Tiger Global-backed company held by them.

As a part of the deal, Hello English’s founders Nishant Patni and Pranshu Bhandari will receive Rs 28.05 crore and Rs 14.02 crore respectively. Tiger Global will get Rs 23.31 crore whereas Kalysta Capital will receive Rs 14.88 crore after the acquisition.

For Austria-based GeoGebra, Byju’s has allotted 3157 Series F preference shares to shareholders of GeoGebra to acquire 50% stake in the company. The total purchase consideration to acquire GeoGebra is $24 Million which include $9.6 million worth shares to the company’s founder Markus Howenwater and $1.2 million worth shares each to the other co-founders Stephen Jull and the company’s CTO Michael Borcherds. The remaining $12 million will go in cash.