Byju's learning app gets nearly $400 million in funding round, says report

Online and mobile application-based education platform Byju’s is nearing a $400 million round of funding in order to expand its business globally, The Economic Times reported, citing sources and documents with the ministry of corporate affairs (MCA).

The deal is leading the valuation of the company at around $3.6 billion, making it among the top five most valued private internet companies in the country after Flipkart ($22 billion), Paytm ($16 bilion), Oyo ($5 billion) and Ola ($4 billion), the report said.

The funding round for the company, according to the report, is being led by South African media company Naspers Ventures, Canadian pension fund CPPIB and private equity firm General Atlantic.