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Indian edtech Byju's raises $250m from existing investors

Move comes a week after startup announced plans to cut around 2,500 jobs

Byju's has raised fresh funds as it increasingly looks for business outside India. (Photo by Kosaku Mimura) 

BENGALURU -- India's largest online education startup, Byju's, has raised $250 million from a clutch of existing investors, including Qatar's sovereign wealth fund, the company announced on Monday, just a week after it said it was cutting about 2,500 jobs.

The fresh funding also comes after an annual report that had been delayed by about 18 months recently showed that losses for the fiscal year that ended in March 2021 jumped twentyfold on-year to nearly 46 billion rupees ($560 million), while revenue from operations rose just 4%.

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