Edtech startup Byju’s founder Byju Raveendran is in talks to raise his stake in the company to as high as 40 percent, as reported by Bloomberg. According to reports, the founder of the world's most valuable edtech startup is looking for funds to finance the buyback. According to estimates, this could be 15 percent of the company's shares.

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In October, BYJU'S raised $250 million in a fresh funding round, with participation from existing investors including Qatar Investment Authority (QIA).

Also read: BYJU’S gets $250 million more from existing investors, promises profitability in 2023

The fresh capital infusion came soon after the company announced plans to lay off 2,500 employees across teams, while enlisting a slew of 'optimisation measures' to hit profitability by March, 2023. For FY21, BYJU'S loss widened by nearly 20 times to Rs 4,559 crore — the worst bottomline figure among all of India's unicorns or startups valued at $1 billion or more.

While addressing a gathering of entrepreneurs and investors at Tech Sparks 2022 in November, Raveendran said that the company with over 150 million learners, is well on its path to profitability as it expects revenue growth of 3 times and losses to be more than halved in FY'22, as reported by PTI.

(This is a developing story)

Also read: Edtech bleeds in 2022 — will it be good or get worse in 2023