Edtech giant Byju’s is planning to raise $200 million through a rights issue to address operational needs and clear immediate liabilities. This comes as the company faces challenges in raising external capital for the past 21 months. Byju’s founders have infused over $1.1 billion into the company over the last 18 months. The latest fundraising will reportedly value Byju’s between $220 million and $230 million, representing a significant drop from its valuation of $22 billion in 2022. Byju Raveendran, the founder, stated that the funds would be used to achieve operational profitability and address immediate liabilities while maintaining shareholders’ rights.