Byju’s turns to internal round as Middle East funding looks shaky

Byju’s negotiations with sovereign wealth funds in the Middle East to raise a new equity round have stalled, according to people with knowledge of the talks. Byju’s—India’s largest education technology company with a valuation north of $22 billion—was in talks with sovereign wealth funds in Abu Dhabi and the Qatar Investment Authority to raise funding to the tune of around $700 million.

“The red flags in its FY21 earning reports spooked the investors,” says an edtech executive familiar with the matter, asking not to be named. “Talking about raising $300 million in a week is easy. Going out in the …