"Byju's Rights Issue Raises $200 Million at $225 Million Valuation Amid Cash Crunch"

TL;DR Summary
Byju's plans to raise $200 million through a rights issue at a valuation of about $220–230 million, a significant drop from its once $22-billion worth. The funds will be used to clear immediate liabilities and meet operational requirements, with founder Byju Raveendran emphasizing the importance of raising capital to prevent further value impairment. This move comes as the edtech company aims to navigate legal and financial challenges and achieve operational profitability, marking a significant shift from its unicorn status to stay afloat in a tough funding environment.
- Byjus To Raise $200 Million Via Rights Issue At Sub-$250 Million Valuation NDTV Profit
- Byju's launches rights issue to raise $200 million from existing investors at $225 million valuation Moneycontrol
- Byju’s cuts valuation ask by 99% in rights issue amid cash crunch TechCrunch
- Former EdTech Billionaire Byju Raveendran Braves The Odds To Raise Funds Again Forbes
- Byju’s FY22 net loss is the third biggest for the year after Vodafone and Tata Motors CNBCTV18
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