Page 24 - Edtech

Homegrown ed-tech platform Adda247 raises $35 million; Google new investor

Government test prep platform Adda247 on Wednesday said it has raised $35 million in a round led by WestBridge Capital; the round also saw Google as a new investor

Byju's says incorrect Indian map is not part of its study material

Edtech major Byju's on Sunday said an incorrect map of India that is circulating on the internet has been wrongly attributed to the company and it will approach the authorities for further investigation and action. The map, which has been attributed to Byju's, shows a few parts of Kashmir as "Azad Kashmir" and "Aksai Chin", sparking outrage on social media against the edtech firm. A Byju's spokesperson said the image in circulation is fake and not from its material. "All our content is watermarked and additionally our logo usage is incorrect, we never use an underline below the logo. We strongly condemn the incorrect map of India that is being distributed maliciously with our incorrect logo placed on it," the spokesperson said. The image has been attributed to student notes and also to an exam paper of Byju's, which has been denied by the company. "This is not part of any material that we have distributed. Our curriculum and all material created are strictly aligned to multiple ..

Edtech and 'dark patterns' to be focus areas for ASCI going ahead

The Advertising Standards Council of India (ASCI) will be focusing more on the education technology sector and 'dark patterns' going ahead, a top official said on Friday. According to ASCI's secretary general and chief executive Manisha Kapoor, dark pattern refers to design behaviourial techniques being deployed by advertisers to manipulate the customers through fake reviews or falsehoods on pricing. "We are working on Edtech. We find education is a highly violative sector and will come out with a report after our study," Kapoor told PTI, speaking a day after the self regulatory organisation's annual general meeting elected N S Rajan as its chairman. She said with dark patterns, the body is taking a closer look through a detailed study. The official made it clear that the studies may or may not result in changes in the recommended code, but the broader attempt by ASCI is to nudge the industry participants and come out with guidelines wherever required. Another major concern of the

Internet firm Sulekha says will focus on ed-tech, Saas businesses

Company aims to have 125 million people using its English language learning app

IT giant HCL acquires majority stake in vernacular edtech platform GUVI

IT major HCL said it has acquired a majority stake in vernacular edtech platform GUVI -- one of the few companies in India to partner with Elon Musk's 'OpenAI' initiative -- for an undisclosed sum

Future of learning: Edtech start-ups' hybrid tilt to lure students

With the offline lure of greater teacher-student connect many such start-ups have forayed into brick-and-mortar centres to compete with existing offline institutions

Edtech major Byju's Rs 1,500-cr payment to Blackstone by September-end

The most-valued edtech start-up made headlines earlier this month after its FY21 numbers received an unqualified report from the company's auditor, Deloitte Haskins & Sells

Byju's focusing on profitable growth, $2 bn revenue in sight: CEO to staff

Asserts that FY22, the year in which the edtech firm incurred a Rs 4,588 cr loss, was the company's best so far and that 2022-23 is set to be even stronger

Did Byju's bite off more than it could chew?

Education technology company Byju's FY21 revenues came in flat, and its losses have widened about 20 times. While it may survive this crisis, questions still remain around the future of the unicorn

Edtech start-up Leverage Edu plans to double workforce in next 12 months

This comes after Leverage Edu raised $22 million in series B funding in March earlier this year, bringing the firm to a valuation of $120 million

Veranda Learning Solutions to raise Rs 300 crore in preferential issue

This raise includes an investment of Rs 61.4 crore to be subscribed by the promoters in the form of convertible warrants

Edtech start-up upGrad acquires corporate training solutions firm Centum

Company led by entrepreneur Ronnie Screwvala is on an acquisition spree and last month bought Exampur, a test-prep provider for state jobs

With a loss of Rs 4,588 crore, Byju's FY21 report card has many red marks

The FY21 revenue figure of Rs 2,428 cr is similar to the revenue figure of Rs 2,434 cr in the previous year, though the difference is that the bottom line in 2019-20 showed a profit of Rs 51 cr

Byju's audited revenue expected to be lower than projected numbers

Byju Raveendran, co-founder and the CEO of the unicorn, has briefed the shareholders and the board members about the difference

After lay-offs, edtech startup Lido Learning files for insolvency

Lido Learning's board of directors has passed a special resolution to file an application under section 10 of IBC, 2016

Byju's to make financial results for 2020-21 public next week: Report

Edtech major Byju's is expected to make financial results for 2020-21 public next week after meeting with shareholders, according to sources privy to the development. The company had informed the Ministry of Corporate Affairs in July that it will announce its financial result on September 6. "Byju's has now obtained an unqualified report from our audit partner Deloitte. The board has approved the audited financial results. Byju's is waiting for the shareholder meeting (expected later this week) before announcing the results in the coming week. Byju's is also in the midst of a round and it hopes to share details of that equally soon," a source told PTI. The MCA had issued a notice to Byju's for the delay in filing the financial result. The company had posted around 82 per cent increasing operating revenue of Rs 2,381 crore in the financial year 2019-20 and its losses were Rs 262 crore. Byju's has set a target to close FY2023 with revenue of around Rs 17,000 crore. The company is l

BYJU's receives clean FY21 audit from Deloitte, to make it public next week

India's edtech startup BYJU's has finally received a clean report from auditor Deloitte on its financial results for FY21 that will be shared with the equity and debt investors next week

How Eduvacancy is changing the way institutes hire teachers in India

The firm's SaaS-based platform has over 500,000 registered educators and 12,750 institutes pan India and matches the right candidate for the right job across regions

upGrad launches new upskilling programme; aims to enable 75,000 jobs

Bucking the slowdown trend within the edtech sector, upGrad said it has remained bullish with its program completion rate of 80 per cent

Edtech start-up Sunstone raises $35 million from WestBridge Capital, others

Founded by Ashish Munjal and Piyush Nangru in 2019, Sunstone had raised USD 28 million in Series B in October 2021