Qatar Sovereign Fund plans to invest in edtech giant “Byju’s”
Bengaluru based India’s first edtech unicorn is planning to raise fund from Qatar’s sovereign wealth fund, Qatar Investment Authority (QIA). QIA comprises of country reserves and international investors. Qatar Investment Authority may invest $200-$250 million for 5% stake in the company. Previously, QIA has invested $150 million in Indian e-commerce company “Flipkart” in 2014. Byju’s is a learning platform for students of classes 4th to 12th. Byju’s also help students in preparing competitive exams such as JEE, NEET, CAT, GMAT etc. The company has recently launched a gamified learning product in partnership with Disney, for kids aged 1 to 3 years. In March, 2019 Byju’s was valued at $5 billion and this investment of more than $200 million from Qatar Investment Authority would help Byju’s to expand their roots in international market.