Rs.1,200 cr more vanishes from Byju's funding round
A whopping Rs 1,200 crore from a US-based company, recently announced by Byju’s as a funding round, has gone off track, according to a media report.
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New Delhi: A whopping Rs 1,200 crore from a US-based company, recently announced by Byju's as a funding round, has gone off track, according to a media report.
In September 2021, New York-based Oxshott invested Rs 1,200 crore as part of a Series F round at Rs 285,072 per share, according to regulatory filings reported by researcher Tofler.
Other investors in the round included Edelweiss (Rs 344.9 crore), IIFL (Rs 110 crore), Verition Multi-Strategy Master Fund (Rs 147 crore) and XN Exponent Holdings (Rs 150 crore), according to The Morning Context.
"Money from Oxshott Capital Partners or related entities for an investment has not reached the company," the report claimed. This comes after a recent report which claimed that some money in the Rs 6,300 crore private equity investment that Byju's company announced in early this year has not come to the edtech company.
However, Byju's, in a statement, said most of the funds have been received and the rest is on track. In March, Byju's had announced to raise about Rs 6,300 crore from Sumeru Ventures, Vitruvian Partners, and BlackRock. Byju Raveendran, Founder and CEO, was also part of the funding round and made a personal investment of $400 million. The company said that "its fundraising efforts are on track and majority of the $800 million has been already received". "The balance is also expected soon," a company spokesperson said earlier. The report had claimed that Sumeru Ventures participated in about Rs 6,300 crore round in Byju's. "But the money hasn't come in and questions are being raised about the fund's antecedents."
