/
•
•
Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
Last September, the edtech company announced the investment. Nine months on, there is no sign of the money or the investor.
Editor's note: Once might be understandable, but twice? It seems Sumeru Ventures wasn't the only fake investment in Think & Learn Pvt. Ltd, which does business as Byju’s, India’s largest education technology company. The Morning Context has learnt that money from Oxshott Capital Partners, or related entities, for an investment announced in September 2021 hasn’t come to the edtech company either. “Oxshott was supposed to lead a Rs 2,200 crore Series F round with an investment of Rs 1,200 crore,” says a person in the know, asking not to be named. “But the money never came.” A regulatory filing with the Ministry of Corporate Affairs shows that Byju’s shareholders passed a resolution to issue 77,174 Series F compulsorily convertible cumulative preference shares at a premium of Rs 285,062 to seven entities on 27 September. Oxshott Venture Fund X LLC was supposed to invest Rs 1,200 crore for 42,095 Series F preference shares, followed by Edelweiss (Rs 344.9 crore), XN Exponent Holdings (Rs 150 crore), Verition Multi Strategy Master Fund (Rs 147 crore), MarketX Byju’s Fund 1, a series from MarketX Ventures LLC …
The UAE-based school operator is making a move into Saudi Arabia as it enters its biggest expansion phase yet.
The investment signals a shift from structured learning to bite-sized, bingeable learning that mixes entertainment with education. But can it deliver real-world skills?
Aggressive accounting, failed acquisitions and soaring customer acquisition costs lurk beneath India’s first edtech IPO.
