"Byju's Rights Issue Raises $200 Million at $225 Million Valuation Amid Cash Crunch"

Byju's plans to raise $200 million through a rights issue at a valuation of about $220–230 million, a significant drop from its once $22-billion worth. The funds will be used to clear immediate liabilities and meet operational requirements, with founder Byju Raveendran emphasizing the importance of raising capital to prevent further value impairment. This move comes as the edtech company aims to navigate legal and financial challenges and achieve operational profitability, marking a significant shift from its unicorn status to stay afloat in a tough funding environment.