Page 5 - Edtech

Aakash Educational plans to invest up to Rs 1,000 crore in AI, digital push

New Delhi-based education provider, which started in 1988, is now ramping up its presence in smaller Indian towns, betting on the growing demand for quality coaching in Tier 3 and Tier 4 cities

PhysicsWallah to offer AI-powered NEET, JEE courses in five local languages

Announced at Vishwas Diwas, PW's annual flagship event, Project Bharat aims to bridge language barriers, especially in rural and non-Hindi/English-speaking regions of the country

US court finds Riju Ravindran, Camshaft, Think & Learn guilty of fraud

Think & Learn Pvt Ltd (Byju's) unlawfully orchestrated and benefited from a fraudulent scheme. Sham hedge fund Camshaft Capital facilitated the fraudulent scheme to defraud term loan lenders

Google's AI previews erode internet, US edtech firm Chegg says in lawsuit

Chegg is now considering a sale or take-private transaction as a result, the company's CEO Nathan Schultz said on Monday

NCLT Bengaluru approves appointment of new RP for debt-laden Byju's

Ajmera will replace former RP Pankaj Srivastava

Eupheus Learning narrows loss to Rs 9 cr, revenue at Rs 225 cr in FY2024

Edtech firm Eupheus Learning has posted a revenue of Rs 225 crore in the 2024 financial year driven by operational efficiency and growth following the rollout of the National Education Policy 2020, a top official of the company said. Eupheus Learning Co-founder and CEO Amit Kapoor told PTI the company expects to grow revenue by 10 per cent in the current financial year and continue to improve margins. "We introduced several operational efficiency mechanisms in the company which led to improvement in margin. Our revenue grew by about 8 per cent to Rs 225 crore. Our losses have halved from about 18 crore to Rs 9 crore," Kapoor said. The company provides services to around 10,000 schools in more than 725 cities, he said. Kapoor said that the ClassKlap, with threefold growth from FY'22 to FY'24, has become cash flow neutral and SchoolMitra accounts for almost 35 per cent of the company's revenue. Eupheus acquired ClassKlap and SchoolMitra in 2021 and 2022 respectively. These mileston

Byju's fallout lingers but edtech ecosystem bets on long-term benefits

Following Byju's crash-and-burn, both industry players and investors are moving away from a valuations game to larger issues of governance and sustainable growth

Ed-tech unicorn LEAD Group eyes IPO within 2-3 years: Smita Deorah

The GSV Ventures- and Westbridge Capital-backed firm became a unicorn in 2022 and is now valued at $1.14 billion. The company currently services more than 8K schools and plans to add 3-4K schools

Digital channels drive 62% of student enrollments in India: Report

Student enrollments are now driven by digital channels, with platforms like Google leading paid enrollments at 10.13%

Edtech company Great Learning launches AI Mentor and AI Teacher

Since its rollout across select cohorts of learners over the past few months, the AI Mentor has made a significant impact, with over 400,000 coding hints generated

Hope 50% of our portfolio firms go public in 5 years: GSV Ventures CEO

He talks of India's edtech sector and the impact of artificial intelligence

Cash-strapped Byju's executive, biz partner found in contempt of US court

Byju's manager Vinay Ravindra and company ally Rajendran Vellapalath failed to answer questions about their roles in stripping software, cash and other assets from Byju's US businesses

Edtech startup Leap raises $65 mn in Series E round led by Apis Partners

Company provides services for studying abroad, has raised $200 million in equity since 2019

Ed-tech firm upGrad to build Institute of AI Excellence in Maharashtra

Under the 'Educity' initiative of Maharashtra, upGrad will also establish an Urban University and Campus Hubs in partnership with three global universities -

EdTech woes: Why India's online & offline education platforms are crashing

India's EdTech sector, online and offline, is collapsing due to financial issues, safety concerns, and lack of student engagement, leaving many frustrated

NIIT MTS Q3 results: Net profit increases 9% to Rs 61.7 cr, revenue up 7%

NIIT Learning Systems on Wednesday reported a nearly 9 per cent increase in consolidated net profit at Rs 61.7 crore in the quarter ended December 31, 2024. It posted a net profit of Rs 56.7 crore in the year-ago period, according to a regulatory statement. Revenue from operations for the quarter under review came in at Rs 418.8 crore, up 7 per cent, from Rs 391.3 crore in the corresponding period of the previous fiscal. "In a tough economic environment, NIIT MTS' strong value proposition is resonating with clients and prospects, resulting in wallet share improvement and new client acquisition. Clients are starting to take advantage of NIIT MTS' innovative use of AI and technology in learning," said Vijay K Thadani, Vice Chairman and Managing Director, NIIT MTS. Seen sequentially, net profit and revenue saw a rise of 8.24 per cent and 5.38 per cent, respectively. The firm added two new global Managed Training Services (MTS) clients during the quarter, bringing its client tally to

Edtech firm BrightChamps acquires Edjust in a cash-and-stock deal

The firm said the acquisition is a strategy to enforce stricter standards and an industry-first model code of customer acquisition

Over 2,000 startups in edtech sector shut shop in past five years

Edtech platforms, which experienced unprecedented growth during the pandemic-induced lockdown, are now grappling with a funding slowdown

Ed-tech unicorn PhysicsWallah expands offline presence to over 150 centres

PhysicsWallah offers two types of classes for students: Vidyapeeth, which are its offline centres, and Pathshala, which includes a hybrid model

Outlook 2025: Funding crash, layoffs shift edtech's focus on innovation

The ed-tech sector, however, was once referred to as the poster child of the country's startup landscape