Page 18 - Edtech

India's largest edtech firm Byju's sacks 1,000 more; count jumps to 3,500

The company, according to the sources, will give two months' salary to those laid off

Physics Wallah to acquire 50% stake in Xylem for Rs 500 cr in 3 years

Unicorn edtech firm Physics Wallah has entered into a strategic partnership with Kerala-based edtech firm Xylem Learning, under which it plans to invest Rs 500 crore over a period of next three years, the company said on Sunday. The partnership is aimed to strengthen the presence of Physics Wallah (PW) in the southern market. "This partnership with Xylem Learning fills me with immense excitement and pride. It not only aligns with our shared vision of providing quality education to all but also propels us closer to our strategic goal of becoming the leading education platform in South India," PW Founder and CEO Alakh Pandey said in a statement. The partnership involves strategic equity and cash investments in Xylem and scaling up operations. "In three years we will invest Rs 500 crore to propagate the brave and unique "XYLEM model of Hybrid Learning" to other adjoining sister states - it is a special result-oriented plan of learning which has specially impressed me. "To do this it

Edtech firm Chegg to cut 4% of staff amid AI threat to business model

Chegg has revealed its plans to cut about 4% of its workforce, weeks after its CEO admitted that ChatGPT was crushing its business as students are turning to artificial intelligence for homework

After riding the pandemic edtech boom, Byju's inverted learning curve

India's first decacorn is mired in losses, court cases, valuation cuts and the attention of enforcement agencies

upGrad forays into Pacific region with medical institute in Vanuatu

Edtech firm upGrad on Tuesday announced that it has forayed into Pacific region with first-ever fully offline medical institute in the Republic of Vanuatu with an initial investment of USD 10 million. The company plans to set up three medical institutes in the region. upGrad Co-founder and Chairperson Ronnie Screwvala said that Vanuatu is at the centre of the educational revolution which also makes it a business-ready geography for us. Vanuatu, a country in Oceania, is a South Pacific Ocean nation consisting nearly 80 islands. "We have a strong presence in Australia, and this move in Vanuatu, which shares proximity with Australia and New Zealand, will be a critical piece in strengthening our South Pacific footprints," Screwvala said. upGrad's Institute of Medical Sciences (UIMS), a fully offline campus in Vanuatu, aims to attract and train global talent with modern day clinical competencies and build the next crop of skilled medical practitioners, the company said in a statement.

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Byju's' legal battle with lenders likely to impact its fund raising

The legal battle might also delay IPO plans for its tutoring service subsidiary Aakash Educational Services, according to industry experts

Byju's lenders, their advisers weigh options after missed interest payment

The edtech company and its lenders are mired in a fight over the term loan after the firm breached terms of its debt agreement

Byju's schedules call for lenders to discuss loan amendment proposal

Byju's didn't pay $40 million in interest due Monday on its $1.2 billion loan

Byju's accuses lenders of manufacturing fake debt crisis to extort money

The company chalks up its current debt predicament to aggressive distressed-debt investors who, in its view, were never supposed to be able to buy the loan

Edtech giant Byju's rolls out AI models for hyper-personalised learning

The edtech giant has launched Byju's Wiz, a suite of three AI transformer models - BADRI, MathGPT, and TeacherGPT

Edtech giant Byju's 'skips' interest payment on $1.2-billion loan

Files suit against Redwood, alleging predatory tactics

Byju's announces plans for Aakash IPO in 2024 amid funding crunch

Edtech giant facing deadline to pay $40 mn; raises $250 mn from US investment firm

Edtech major Byju's lenders scrap talks to restructure a $1.2 bn loan

Byju's has to make an interest payment on the loan by June 5

Skill-Lync partners with TN Skill Development Corp to train 10,000 students

Ed-Tech platform Skill-Lync on Wednesday announced that it will train 10,000 students in partnership with the Tamil Nadu government. The company has so far trained up to 3,640 students from 364 colleges under the 'Naan Mudhalvan' programme, launched by the Tamil Nadu government, it said in a statement. Through this partnership, Skill-Lync provides its customised 19 professional course called Industry 4.0, which upskills students on emerging technology and helped optimise manufacturing across the industry. This partnership is accomplished in three phases, Faculty Development Programme (FDP), online learning and offline training, under which it has trained the students across Tamil Nadu in 105 colleges. "Our partnership with the Tamil Nadu government for Naan Mudhalvan scheme is a significant milestone. This allowed us unprecedented scale to improve the employability of engineering students by providing them with industry-relevant technologies. "Our vision of enabling students with

Edtech firm Scaler makes fourth acquisition in 2 years, buys Pepcoding

Scaler says it has merged Delhi-based coding instructor with itself for growth and expertise in business

upGrad Abroad to hire 500 freshers in 3 months to expand business

Edtech player upGrad's arm, upGrad Abroad, on Monday said it plans to add 500 members in the next three months to further expand its business footprints. The fresh recruits would be made across multiple sub-departments including sales, marketing, technology and product, upGrad Abroad said in a statement. This recruitment will mainly be fresh talent directly from college campuses and universities to accelerate employability. We have built a strong business model that is minimising geographical barriers not just for our learners but also for the back-end teams. Hence, it's critical for us to get more of such young employees on-board who are keen on international exposure and can work in sync with the brand's mission of easing the skilled talent mobility for several global economies," upGrad Abroad President Ankur Dhawan said. The vertical also expects to break even this year and cross Rs 500 crore of annual gross revenue during 2023-24. "We are building strong business pockets across

Physics Wallah to invest Rs 120 cr in 3 yrs to boost tech skilling platform

Edtech unicorn Physics Wallah plans to invest Rs 120 crore in the next two-three years to boost its technology skilling platforms, the company said on Friday. PW Skills plans to invest the corpus in development of technology and the platform, content including vernacular courses, onboarding industry experts and bolstering the ecosystem to provide jobs. PW co-founder Prateek Maheshwari said PW Skills aims to address the prevalent issue of inaccessibility and steep pricing of most technology and upskilling courses. He said that the courses often lack a focus on practical training and the teaching of basics, emphasising jargon instead. "There is a significant gap in training availability in vernacular languages. PW Skills is committed to bridging these gaps by investing Rs 120 crore in the next 2-3 years to bolster our offerings by providing quality content, taught from the basics by industry professionals, at highly competitive prices," Maheshwari said. The company is also planning

Litigants' claims in US court over loan to entity 'bewildering': Byju's

Edtech giant says creditors claim about hiding $500 million 'entirely incorrect'

Edtech major Byju's sued by an agent connected to its $1.2 billion loan

The lawsuit was filed by Glas Trust Company and investor Timothy R. Pohl against Byju's Alpha, Tangible Play, Inc. and Riju Ravindran