Educator Byju Misses US$ 40 Million Payment
Posted on 06/07/2023
After Chinese education startups were banned by decree, Indian education startup Byju is taking its lumps for different reasons.
BlackRock, Sumeru Ventures, and Vitruvian Partners all bought into the high hopes the company imagined, participating in a funding round that valued the company at US$ 22 billion. Unfortunately, Byju missed a US$ 40 million interest payment on a loan and the future of the company’s financial health is in doubt.
Byju looked poised to conquer as it expanded during the pandemic, providing educational resources that were in high demand, in a wave that also lifted Zoom Video Communications and others strategically placed for online success at the time. Zoom has also taken a dive since the pandemic.
Cofounders
Byju Raveendran leads Byju. He holds a bachelor’s degree in technology. He cofounded the company with his wife, Divya Gokulnath.
