Qatar Investment Authority leads $150mln funding for Indian education startup Byju's | ZAWYA MENA Edition:
Indian online tutoring startup Byju's said on Wednesday it had raised $150 million from investors led by the Qatar Investment Authority (QIA), which a source familiar with the matter said valued it at more than $5.5 billion.
Venture capital fund Owl Ventures also participated in the funding round and the proceeds will be used for international expansion, Byju's said in a statement, without saying what valuation the investment implied for the firm.
"This investment underscores QIA's strong commitment to the education sector and our focus on investing in leading innovators in the TMT (tech, media and telecoms) industry globally," Mansoor Al-Mahmoud, CEO of QIA, Qatar's sovereign wealth fund, said in the statement.
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