MP Karti asks SFIO to probe Byju’s funding – Times of India

BENGALURU: Congress MP Karti P Chidambaram on Thursday tweeted that he has written to India’s fraud regulator SFIO to launch an investigation into the financing of edtech large Byju’s. “It’s crucial {that a} thorough investigation is launched,” he tweeted.
In a letter that was tagged to the tweet, Chidambaram stated a lot of information experiences highlighted “grave allegations” in opposition to the corporate regarding its funds. An e-mail despatched to Byju’s didn’t elicit a response until the time of going to press.
Chidambaram sought SFIO’s consideration in direction of the $800-million funding spherical raised by the edtech agency in March this 12 months. He stated two of the funders, Sumeru Ventures and Blackrock, don’t seem to have introduced within the cash promised. “This raises a query of the lacking Rs 2,500 crore within the firm’s funding,” he stated. Byju’s had lately clarified that its fundraising efforts are on monitor and a majority of the $800 million had already been acquired.


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