New Delhi: Indian edtech startup Byju's is in advanced talks with prospective new shareholders for a $1 billion fundraising round in an attempt to sidestep a revolt by some investors, Bloomberg News reported on Tuesday, citing sources.


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The education startup is offering benefits to the potential investors, including preferential treatment in the case of liquidation, the report said, adding that none of its existing shareholders have a so-called liquidation preference.


Byju seeks to close a round within two weeks, according to the report. The company did not immediately respond to Reuters' request for comment.


The report comes days after representatives of three global investors - Peak XV, Prosus NV, and the Chan-Zuckerberg Initiative - stepped down from the company without publicly citing reasons, and auditor Deloitte said it was severing ties with the startup over its "long-delayed" financial statements for the year ended March 2022.