Hailing from a small village named Azhikode in Kerala, Byju Raveendran started his career as an engineer for a shipping company in the United Kingdom. He used to assist his friends and colleagues in preparing for the CAT exam, and Byju himself also took the exam and obtained a good grade. Instead of getting admitted to IIMs, Byju started counseling students in preparation for their mathematics examinations. He started to take free workshops in the beginning. After he became confident about his teaching skills, he started to take the fee. The workshops became popular at one point, and more than 20,000 students attended one of them.
Funding and Investors
Chan-Zuckerberg Initiative, Facebook founder Mark Zuckerberg, and his wife Priscilla Chan's startup funding program provided funds to Byju's in 2016. The sales of its online educational coaching programs skyrocketed, and Byju soon became a unicorn and was placed in the prestigious unicorn club of Indian startups.
The company completed a funding round of $ 800 million in 2022. The funding round included the investors Sumeru Ventures, Vitruvian Partners, and BlackRock, with $400 million in funds. Besides, as Sumeru and Oxshott didn't contribute the funds of $250 million, the company started facing financial challenges.
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