Byju’s in advanced talks to raise $250-300 mn in fresh funding

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Editor's note: Edtech major Byju’s, which has been firefighting on several fronts for a year now, finally seems to have caught a break. India’s most valuable unicorn is in advanced talks to raise $250-300 million in a new round of funding, according to an edtech executive in the know. “Talks are in advanced stages and the fundraising might close in about two weeks,” says this person, requesting anonymity. “This should solve the immediate working capital crunch.” At this point, it is unclear whether the Bengaluru-based firm is raising the new round from existing or new investors. Accounting firm KPMG has performed due diligence and given a clean audit report, which will be the basis of the fundraising, says this person. The Morning Context could not ascertain the valuation or specifics of the structure of the potential funding. But the company is promising investors a public listing for Aakash Educational Services Ltd soon, says the executive. Byju’s owns a significant portion of the offline tutor. “Although it is a primary infusion of capital, the valuation is not clear,” says the person quoted above. …