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Byju’s raises $460 million in series F funding round
New Delhi : Bengaluru based ed-tech company Byju’s has raised $460 million in its ongoing series F round led by MC Global Ed-tech Investment Holdings LP. The investment now values the ed-tech start-up at around $13 billion, according to regulatory filings.
This is the first fund raise for Byju’s this year as it had raised over $1 billion in 2020. With the development, the holding of the promoters’ group in Byju’s which includes founder and CEO Byju Raveendran and his family now stands at 26.09 per cent.
As many as nine investors participated in the funding round including Tiga Investments, TCDS (India) LP, Arison Holdings, XN Exponent Holdings, Baron Emerging Markets Fund and Baron Global Advantage Fund, according to news portal Entrackr, which first reported the development.
Founded by Byju Raveendran, the start-up is on an acquisition spree ever since it acquired Whitehat Jr in 2020 for $300 million. In January, it signed an acquisition deal with brick-and-mortar Akash Educational Services for $1 billion, which is also believed to be one of the largest ed-tech acquisition deals. It is also in advanced talks to acquire smaller rival Toppr for $150-160 million, according to multiple reports.
The Covid2019 pandemic set the demand soaring for the ed-tech firms like Byju’s which cater to students from kindergarten to Class 12.
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Jubilant FoodWorks faces Rs 47.5 crore GST demand, plans appeal
Tax authorities flag alleged misclassification of restaurant services
MUMBAI:Â Jubilant FoodWorks Limited has landed in a tax tussle after receiving a GST demand of Rs 47.5 crore from the office of the additional commissioner of CGST and central excise in Thane, Maharashtra.
The order, issued under the provisions of the Central Goods and Services Tax Act, 2017, relates to an alleged incorrect classification of certain services under the category of restaurant services. According to the tax authorities, this classification resulted in a short payment of goods and services tax for the period between the financial years 2019-20 and 2021-22.
The demand includes Rs 47.5 crore in GST along with an equal amount as penalty, in addition to applicable interest. The order was received by the company on March 13, 2026.
In a regulatory filing to the BSE Limited and the National Stock Exchange of India Limited, the company said it disagrees with the order and believes its arguments were not adequately considered.
The company is preparing to challenge the decision and plans to file an appeal. It added that once the redressal process is complete, the demand is likely to be dropped.
Despite the sizeable figure attached to the notice, the company said it does not expect any material impact on its financials, operations or other activities.
The disclosure was signed by Suman Hegde, EVP and chief financial officer, who confirmed that the company received the order at 19:06 IST on March 13 and has already initiated steps to contest it.
The development places the quick service restaurant major in the middle of a tax debate that could hinge on how certain restaurant-linked services are classified under GST rules. For now, the company appears ready to take the matter from the tax office to the appeals desk.
