Startup world gauges spillover effect of edtech firm Byju's web of crises

Byju's income grew to Rs 5,298.43 crore in FY22. But its losses widened to Rs 8,245.2 crore in FY22. Its total expenses for FY22 rose by 94 per cent to Rs 13,668.44 crore

The web of crisis at Byju’s, India’s leading edtech firm, has reached a crescendo as the company fights back investors who poured billions into it. How the fight ends remains to be seen, but murmurs within the startup world are gauging the spillover effect of the Byju’s saga on the ecosystem.

Once pegged as India’s most-valued startup, Byju’s is facing multiple challenges that include a massive cash crunch, delays in financial reporting and legal disputes with lenders. It is now raising $200 million through rights issues at a post-money valuation between $230 million and $250 million, a staggering 99 per