Education technology startup Byju’s is reportedly in talks with a few potential investors, which include the likes of World Bank’s International Financial Corporation, with an aim to fuel its expansion overseas.
It is planning to raise a funding in the region of around $50 million, which is about Rs 335 crore. The company has earlier raised $75 million in March this year from Sequoia Capital and Sofina.
The company provides mobile-based content by deploying movie-making tools and graphics. Its program mainly caters to students from class 6 to class 12 and to aspirants of competitive exams like CAT, civil services, GRE and GMAT.
Byju Raveendran , its founder, has still not decided if the company will go ahead with IFC or other investors.
“It can be one, two, three or four investors because if it is a big player, I will have space only for one. I am in talks with those types of investors also,” he said.
He added, “But there is also an opinion that to accommodate one or two good partners, we might do the same amount, plus or minus $10 million, from three players also.”