NEW DELHI -- Byju's is in talks to renegotiate the terms for a $1.2 billion loan, sources familiar with the matter told DealStreetAsia, as India's most valuable education technology company grapples with steep losses and cost pressures.
Despite being backed by marquee investors such as the Chan-Zuckerberg Initiative, Naspers, the Canada Pension Plan Investment Board (CPPIB), General Atlantic, Tencent, Sequoia Capital, Sofina, Verlinvest, IFC, Aarin Capital, Times Internet, Lightspeed Ventures, Tiger Global and Owl Ventures, Byju's has been under the scanner for its accounting practices, mass layoffs and financial losses.
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