Indian educational technology firm Byju's has raised $150 million to power the company’s global expansion.
The funding round was led by Qatar Investment Authority and also included participation from Owl Ventures. It is the latter group’s first investment in an Indian start-up.
Byju's has now raised $969.8 million in total, according to Crunchbase. The latest raise is thought to value the firm at around $5.5 billion.
Byju's operates online educational courses for over 30 million registered users in India, from grades four to 12.
Earlier this year the company splashed out $120 million on US educational games developer Osmo.
“We are happy to have strong partners like QIA and Owl Ventures on board with us,” said Byju's founder Byju Raveendran.
“Investment from prominent sovereign and pension funds validates our strong business fundamentals. Indian ed-tech firms attracting interest from eminent investors demonstrates that India is pioneering the digital learning space globally.”
He added: “High adoption and 85 per cent annual renewal from small towns and cities shows the increasing acceptance of digital learning as a primary tool for learning at home.
“This partnership will support and strengthen our vision of creating and delivering personalised learning experiences to students.
“This will help us explore and leverage our expertise in creating immersive tech-enabled learning programmes for students in smaller cities, regions and newer markets.”