A filing, supplied to TechCrunch by research firm Tofler, showed that the new investment values the startup at $18 billion, up from a valuation of $16.5 billion in June this year.

At $16.5 billion valuation, Byju’s had already surpassed fintech giant Paytm for the tentpole position in India’s startup ecosystem.

TechCrunch understands the new investment is part of a larger financing round that is likely to propel Byju’s valuation above $21 billion.

[Via]