The dramatic fall of one of India’s biggest startup success stories has taken another sharp turn.Byju Raveendran, founder of embattled edtech company Byju's, has been sentenced to six months in jail by a Singapore court for contempt of court, reported Bloomberg.The court reportedly found that Raveendran repeatedly violated multiple court orders linked to his assets dating back to April 2024.The Singapore court also ordered him to surrender to authorities, pay costs of S$90,000, or around $70,500, and submit documents proving his legal ownership of Beeaar Investco Pte, a company that held shares in a related entity, Bloomberg reported.It is currently unclear whether Raveendran is in Singapore or elsewhere.
Bloomberg said he did not immediately respond to a request for comment.FROM INDIA’S STARTUP POSTER BOY TO LEGAL TROUBLESThe development marks another major setback for a founder who was once seen as the face of India’s booming startup ecosystem.Raveendran built Think & Learn Pvt Ltd, better known as Byju’s, into one of the world’s most valuable edtech companies during the startup funding boom.At its peak, the company attracted billions of dollars from global investors and turned Raveendran into a billionaire entrepreneur.Byju’s became one of India’s most recognised startups, expanding aggressively into international markets, acquiring companies globally and spending heavily on marketing and growth.The company had also signed high-profile sponsorship deals and became a symbol of India’s fast-growing startup economy....
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