Project 15B – BYJU’S: A Comprehensive Overview
BYJU’S, the Indian edtech giant, has been making headlines for its ambitious Project 15B. This project aims to develop a state-of-the-art campus in Bengaluru, India, that will serve as the company’s headquarters and research center. The project is expected to cost around $1 billion and will cover an area of 9.5 acres . In this article, we will take a closer look at Project 15B, its history, technical details, and latest developments.
History of Project 15B
BYJU’S was founded in 2011 by Byju Raveendran, a former teacher and engineer. The company started as a test preparation platform but soon expanded to offer online courses for K-12 students. Today, BYJU’S is one of the world’s leading edtech companies, with over 100 million users and a valuation of $16.5 billion .
In 2019, BYJU’S announced its plans to build a new campus in Bengaluru. The campus, named Project 15B, would be spread over 9.5 acres and would house the company’s headquarters and research center. The project was expected to be completed by 2022 .
Technical Details of Project 15B
Project 15B is designed to be a sustainable and eco-friendly campus. The buildings will be constructed using locally sourced materials and will incorporate energy-efficient features such as solar panels and rainwater harvesting systems. The campus will also have green spaces and recreational areas for employees .
The campus will have a built-up area of 3 million square feet and will be able to accommodate around 20,000 employees. It will have state-of-the-art facilities such as research labs, innovation centers, and a learning center. The learning center will be equipped with the latest technology and will offer courses and training programs for employees .
In March 2021, BYJU’S announced that it had raised $460 million in funding from a group of investors led by MC Global Edtech Investment Holdings. This funding brought the company’s valuation to $16.5 billion .
In May 2021, BYJU’S announced that it was pursuing a SPAC merger with a US-based special purpose acquisition company (SPAC) called Churchill Capital Corp. The merger is expected to bring in $3.6 billion in cash proceeds, including $1.2 billion from a private investment in public equity (PIPE) .
According to sources byju 15b 200m, BYJU’S is pursuing a SPAC merger rather than an IPO because it sees more value in attracting US investors and partners. The company is also seeking to raise $750 million to $1 billion through pre-IPO financing .
Project 15B is a testament to BYJU’S ambition and commitment to innovation. The campus is designed to be a sustainable and eco-friendly space that will foster creativity and collaboration among employees. With the latest funding and the SPAC merger, BYJU’S is well-positioned to expand its offerings and reach more students globally.