Page 14 - Edtech

Byju's rolls out new social media policy for employees amid layoffs

Any violation will be taken up by the company seriously and may result in appropriate disciplinary and legal action initiated against the employees, according to the internal company document

Edtech firm Byju's to lay off 4,000 employees in major restructuring

The restructuring exercise will be undertaken by Arjun Mohan, who was recently elevated as chief executive officer (CEO) of its India business, replacing Mrinal Mohit, according to the sources

Two-year-old edtech startup Infinity Learn crosses Rs 100 cr revenue

The company's revenue from operations reached Rs 100 cr in 2022-23 compared to just Rs 2.3 crore in 2021-22 and the firm said it has become PAT positive

Infinity Learn turns profitable, targets Rs 500 cr revenue by 2025

Edtech firm Infinity Learn by Shri Chaitanya has turned profitable in the second year of its operation, with revenue of over Rs 100 crore, a senior company official said on Thursday. Infinity Learn by Sri Chaitanya founding CEO Ujjwal Singh said the company expects Rs 500 crore in revenue by 2025 and over seven times growth in overall subscriber base to 5 crore. "In less than two years of commencing operations, we have turned profitable, and our topline has crossed Rs 100 crore. We aim to be a Rs 500 crore firm by 2025," Singh told PTI. Infinity Learn commenced operation in June 2021 and closed the first fiscal with a loss of Rs 37 crore. The edtech firm, at present, has a gross user base of 70 lakh, out of which 7.5 lakh are paid subscribers. Singh said the company has started three offline centres and plans to set up 40 centres by 2025. "Each of the centres will have the capacity to accommodate 2,500-3,000 learners," Singh said. Infinity Learn will scale up the integrated scho

Edtech ConveGenius builds SwiftChat conversational AI platform on AWS

Amazon Web Services (AWS) India on Thursday announced that edtech social enterprise ConveGenius has built a conversational artificial intelligence (AI) chatbot on its platform for government schools and low-free private schools. The conversational AI chatbot platform -- SwiftChat -- aims to improve learning outcomes for school students using more than 53 conversational AI chatbots that deliver personalised learning content in 13 regional languages to over 100 million students across India. ConveGenius has built SwiftChat Conversational AI Platform on AWS, a release said. "Using the SwiftChat platform, which holds 124 million student profiles across 19 million devices, government schools can create omnichannel chatbots to deliver personalised learning, like curated videos and read-along content, through a single AI-enabled chatbot conversation," it said. Besides the personalised learning, SwiftChat offers teacher training and data-driven decision-making for school administrators, ..

Byju's elevates Arjun Mohan as CEO of India business, Mrinal Mohit quits

Arjun Mohan, a member of the founding team who most recently served as the Chief Business Officer, has rejoined the company after a stint at Ronnie Screwvala-led UpGrad

Edtech giant Byju's regrets 'delays' in settling dues of laid-off employees

According to the new timeline provided in an email to sacked employees, employees can now expect to receive their outstanding payments by November 17, as against the earlier September 15 deadline

Manipal Global Education forays into edtech, plans Rs 100 cr investments

Manipal Global Education has entered into the edtech space with the launch of Manipal MedAce in which the organisation plans to initially invest over Rs 100 crore in the development of content for the platform, a senior official of the said on Thursday. Manipal Global Education Services (MaGE), Managing Director and CEO, Ravi Panchanadan told PTI that the institution is leveraging its expertise and resources for the foray in the edtech sector starting with learning modules for medical courses and test preparation for medical aspirants. "With MedAce we've combined our 60-year expertise in delivering top tier medical content using the latest digital technology in a user-friendly manner," Panchanadan said. The Manipal MedAce app will have learning modules for MBBS students and test preparation modules for NEET PG aspirants. He said that Manipal has invested Rs 50-60 crore initially in the development of the MedAce and the company estimates investments of another Rs 50 crore over a per

Lenders allege Byju's hid $533 million in obscure 3-year-old hedge fund

Byju's denied the charge, saying its credit agreement with lenders did not prohibit or restrict the usage, movement or investment of funds

Byju's hid $533 mn in hedge fund once run from Miami IHOP, allege lenders

"Byju's has gone to great lengths to conceal the whereabouts of borrower's $533 million for the admitted purpose of hindering and delaying" creditors, they argued in Miami-Dade County court filings

Byju's changing fortunes: From buying spree to selling crown jewels

The valuation of the company led by Byju Raveendran jumped to $15 billion by April 2021. Raveendran used the funds to acquire some 20 companies worldwide

Edtech company Byju's plans asset sale to pay off $1.2 billion loan

The lenders are evaluating Byju's proposed amendment and have reportedly asked for more information about the loan repayment proposal

Byju's puts Epic, Great Learning on sale to raise $800 million-$1 billion

Byju's is hoping to earn between $400-$500 million from the sale of Epic, which is a US-based kids' learning company

Edtech investment cooling in 2023 but growth outlook remains strong

A leading example is Byju's, a company that has come to epitomise the challenges facing this sector

Funding into edtech sector plunges 48% in 2023 due to decreased demand

Experts said that the demand-supply mismatch between teachers and course availability in offline education is expected to fuel the growth in the sector in the coming years

USA's PowerSchool acquires Indian edtech firm Neverskip for undisclosed sum

The deal will lead to the two companies creating a unified technology platform for school operations

Byju's and lenders postpone legal battle, aim for out-of-court settlement

The parties are working on reaching a forbearance agreement, and discussions are still ongoing

India among biggest edtech centres, tech, people impt: Anthology Global CEO

India is one of the biggest edtech centres in the world and is among the key markets of US-based Anthology, its recently-appointed CEO Bruce Dahlgren said. Anthology, a global edtech company, is operational in 80 countries and has 150 million consumers. It is present in India since 2000 and has three offices -- two in Bengaluru and one in Chennai. "I made it a point to ensure that I come to India in my first few weeks itself because of the importance of technology and the people here," Dahlgren, who is visiting the country for the first time after taking charge of the Florida-based company a few weeks earlier, told PTI. Without sharing details about its India presence, the company said they are among the global leaders in the edtech sector. Dahlgren said more than 25 per cent of its employees are Indian. "Much of the innovation and concepts around the future come from India. So, it's not just (for) development or a support or services it's actually about the innovation," he said,

Edtech giant Byju's CBO Prathyusha Agarwal, two senior executives quit

These exits come at a time when the most valuable edtech company has been trying to address challenges such as due diligence issues, legal battles with lenders, challenges in raising fresh capital

Byju's business head Prathyusha Agarwal resigns amid reorganisation

Agarwal had joined Byju's in February 2022 from Zee Entertainment Enterprises. Two other business heads - Himanshu Bajaj and Mukut Deepak - have also left, the company