Byju's, India's online education pioneer, is in talks to raise $150 million from UBS Group AG, sources informed CNBC-TV18.

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Byjus' valuation is expected to touch $16.5 billion with this funding, This will make the company the most valued unicorn, surpassing fintech giant Paytm, which was valued at $16 billion in its last round of funding in November 2019.

Byju's has raised nearly $2 billion in funding since January of 2020 from marquee names such as Tiger Global, Mary Meeker's Bond Capital, T Rowe Price, Silver Lake and several others, as per data from Venture Intelligence.

The company has also been on an acquisition spree, having acquired WhiteHat Jr last year for $300 million.

Earlier this month, Byju's said it has acquired Aakash Educational Services Ltd (AESL) to bolster its presence in the test preparation segment in the country. According to sources, the deal was worth close to $1 billion (about Rs 7,300 crore), news agency PTI had reported.

Latest reports suggest Byju's is looking at more acquisitions of players such as Great LEarning and GradeUp.

First Published:Apr 29, 2021 1:58 PM IST