Page 25 - Edtech

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

Edtech firm Sunstone raises USD 35 million from WestBridge Capital, others

Edtech startup Sunstone, which focuses on higher education, on Friday said it has raised USD 35 million, about Rs 280 crore, in a funding round led by WestBridge Capital. The funding round also saw participation from Alteria Capital. Founded by Ashish Munjal and Piyush Nangru in 2019, Sunstone had raised USD 28 million in Series B in October 2021. Munjal said that the fresh capital will be used to expand into new programmes with a key focus on undergraduate technology programmes. The company has presence across more than 35 cities in over 40 institutions and is building capacities to expand into 100 cities across the country in the next two years. "The Indian higher education system is at the brink of a long overdue transformation. Sunstone is well positioned to enable this change and impact the lives of millions of students. Over the years, we have made significant strides in the direction but still have a long way to go as the market opportunity and problem we are trying to solv

Unacademy founder Gaurav Munjal and Relevel deny report of layoffs

"No layoffs. We have moved some team members to other Businesses of the Group though. Team worked really really hard to ensure that we find a role for everyone," Munjal tweeted.

upGrad raises $210 mn funding, eyes acquisitions in US, Southeast Asia

The funding has helped the firm double its valuation to $2.25 billion

AWS, Intel empower govtech and edtech startups with 'cloud' in Hyderabad

Amazon Web Services (AWS) and chip-maker Intel recently hosted the 'CXO Mixer' event here to empower govtech and edtech startups, enabling them in their cloud journey to scale, transform and excel

Higher edtech platform upGrad raises Rs 1,670 cr despite funding winter

At a time when the Indian edtech companies are busy sacking employees amid the ongoing funding winter, upGrad said it has raised $210 million (about Rs 1,670 crore)

Edtech firms LEAD School, Vedantu lay off nearly 100 workers each

In continuing layoffs at edtech platforms in India, industry leaders Vedantu has asked 100 more employees to go and LEAD has also laid off a similar number of staff in the ongoing funding winter

Navneet Education hits 3-yr high on strong Q1; stock soars 28% in 2 days

The advent of new educational policy would bring changes in the curriculum of the school syllabus and will directly impact the company's business positively, acting as a strong growth driver.

Ronnie Screwvala-led upGrad taps Bharat to help learners get govt jobs

upGrad is planning to expand its operations in rural India with various programmes including upskilling the talent present there for job opportunities in the private sector

upGrad acquires edtech platform 'Harappa Education' for Rs 300 cr

Higher education platform upGrad on Friday announced it has acquired online learning institution Harappa Education for Rs 300 crore (about $38 million)

Edtech startup Creative Galileo raises $7.5 million in Series A funding

The latest round brings Creative Galileo's total funding to $10 million, including a pre-series A round of $ 2.5 million announced in October 2021

Karti Chidambaram wants govt to probe edtech giant BYJU's finances

Congress MP Karti P. Chidambaram on Thursday said he has written a letter to the Serious Fraud Investigation Office (SFIO) to investigate the finances of edtech major BYJU

Edtech platform 'Creative Galileo' raises $7.5 mn at $40 mn valuation

Edtech platform for kids Creative Galileo has raised USD 7.5 million, about Rs 60 crore, in a funding round from a clutch of investors including Kalaari Capital, the company said on Thursday

Centre pulls up edtech firms for mis-selling courses, IEC responds

Self-regulatory organisation India Edtech Consortium (IEC) on Saturday said it is committed to protecting consumer interest and has resolved 100 per cent complaints received till June