Connect with us

Latest News

Bjyus Raises Funds From China’s Tencent

Published

on

Bjyus Raises Funds From China Tencent,Bjyu's Raises Funds,China Tencent,edutech startup Byjus,Tencent Holdings,Byju Ravindran,Startup Stories,Inspiring Startup Stories India,2017 Latest Business News

Byju Ravindran’s edutech startup Byjus has raised a new round of funds from China based investment company Tencent Holdings Ltd. According to an official statement, this undisclosed amount will be used to accelerate product development for new markets and enable inorganic growth through acquisitions. However, VCCircle reported Tencent has invested around $ 35 million (Rs. 225 crores) and the company was valued around $ 776 million (Rs. 5,000 crores) in this round.

The online education startup recently raised $ 30 million from Brussels based fund Verlinvest and acquired two US based education startups from Pearson, earlier this month. Livemint reported the Verlinvest round of funding was closed at a valuation of $ 600 million.

Founded in 2011, the company turned profitable last year and has seen more than 100% growth, with revenue growing from Rs. 115 crores to Rs. 260 crores in the financial year 2016 – 2017. The company also saw a $ 50 million investment from Mark Zuckerberg’s Chan Zuckerberg Initiative, in September last year.

CEO Byju Ravindran, speaking about the investment said, “We are excited to have Tencent on board with us. This makes our strong investor portfolio even more diverse.” The app based platform offers visual and text based study material for students in schools and those preparing for competitive exams. They offer learning programs for students in classes 6 to 12 along with test preparation for JEE, AIPMT, CAT, IAS, GRE & GMAT.

Hong Kong Stock Exchange listed holding firm Tencent Holdings owns a plethora of companies in the media, entertainment and internet commerce space. Tencent has also invested in Beijing based online tutoring platform Yuanfudao. The Chief Executive Director of Investments at Tencent, Hongwei Chen said, “We share Byjus’ mission of transforming education by creating personalized learning experiences for students.We are excited to be partnering with Byju on this exciting journey.”

Byjus, which has 8 million users and around 400,000 annual paid subscribers, has raised around $ 200 million from investors to date. Raveendran, in a statement, said they expect to double the revenue this year and become a profitable company on a full year basis.

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest News

PhonePe’s PINCODE Launches 10-Minute Medicine Delivery in Cities

Published

on

PhonePe

PhonePe’s PINCODE app has launched a 24×7 online medicine delivery service in Bangalore, Mumbai, and Pune, promising delivery of both prescription and over-the-counter medicines within 10 minutes from nearby local medical shops. Unlike conventional e-pharmacies that use dark stores, PINCODE partners exclusively with neighborhood pharmacies, enabling faster deliveries and supporting local businesses in the digital economy.

Customers without prescriptions can select a “no prescription” option when ordering; a qualified doctor then provides a free teleconsultation and issues a digital prescription compliant with telemedicine guidelines, ensuring seamless access to medicines. The app offers competitive pricing by passing discounts from local pharmacies directly to customers and charges no delivery fees.

PINCODE’s hyperlocal model enhances healthcare accessibility and convenience while empowering local pharmacies, helping them remain integral to their communities and stimulating local economic growth. Launched in 2023, the app focuses on quick commerce with an emphasis on speed, reliability, and supporting local sellers.

In summary, PhonePe’s PINCODE app is transforming medicine delivery in major Indian cities by combining ultra-fast 10-minute delivery, free doctor consultations, and a hyperlocal sourcing model that benefits both consumers and neighborhood pharmacies.

Continue Reading

Latest News

Piyush Anchliya Joins Cashfree as CFO Amid Fintech Boom

Published

on

Cashfree Payment - StartupStories

Cashfree Payments has appointed Piyush Anchliya as its new Chief Financial Officer (CFO), effective April 15, 2025. Anchliya brings over 15 years of experience in investment banking, corporate finance, strategy, and mergers and acquisitions, with senior roles at Barclays, Bandhan Group, and most recently as CFO of Bandhan AMC. He holds an MBA from IIM Ahmedabad and a B.Tech. from IIT Kharagpur.

In his new role, Anchliya will lead Cashfree’s financial strategy, optimize operations, and support the company’s next growth phase. He will report to CEO and Co-founder Akash Sinha, who highlighted Anchliya’s expertise as vital for sustainable scaling and strengthening the company’s financial foundation. Anchliya succeeds outgoing CFO Vikas Guru, who will assist during the transition.

Founded in 2015, Cashfree Payments processes over $80 billion annually for more than 800,000 businesses. The company recently raised $53 million in funding led by KRAFTON and Apis Growth Fund II and secured key RBI licenses, positioning it for accelerated growth in India’s fintech sector. Anchliya’s appointment comes at a pivotal time as Cashfree aims to expand its leadership in digital payments.

Continue Reading

Latest News

Flipkart’s Jeyandran Venugopal Likely to Join Reliance Retail as CEO

Published

on

Flipkart - StartupStories

Jeyandran Venugopal, the outgoing Chief Product and Technology Officer of Flipkart, is set to become the CEO of Reliance Retail Ventures (RRV), the retail arm of Reliance Industries. His appointment, expected to be finalized in May after his exit from Flipkart, signals Reliance’s push to strengthen its retail business with a technology-first approach.

Venugopal brings extensive experience from leading roles at Flipkart, Myntra, Yahoo, Snapdeal, and Amazon, where he focused on scaling technology platforms and driving innovation. At Flipkart, he managed product, engineering, data science, and more, helping build robust systems and improve user experience.

His move comes as Reliance Retail undergoes transformation, including cost-cutting and a renewed focus on digital growth. Venugopal’s leadership is expected to accelerate Reliance’s ambitions in omnichannel and tech-driven retail, positioning the company for continued dominance in India’s evolving market.

Continue Reading
Advertisement

Recent Posts

Advertisement