Edtech leader BYJU's is in for a big change with its Founder and CEO Byju Raveendran set to focus his energies on global operations, especially in the US, as the Indian online edtech market shrinks considerably with schools, colleges and tuition centres reopening. Sources close to the development told IANS that Raveendran is all set to hand over India operations to Chief Operating Officer Mrinal Mohit. BYJU's, which was last valued at nearly $22 billion making it India's most valued start-up, declined to comment on the development but according to reliable sources, an official confirmation about Raveendran taking a bigger global role would come soon as new designations for Raveendran and Mohit are currently being discussed. Raveendran is already out of India, meeting investors in the US and the UAE. BYJU'S in March announced a new partnership with QIA, the sovereign wealth fund of Qatar, to launch a new edtech business and state-of-the-art research centre in Doha. The new entity in Doha will drive research and innovation to create cutting-edge learning solutions customised for students in the MENA region. "We are excited to partner with QIA in this next phase of expansion, development and building new innovations in learning in the MENA region," Raveendran had said in a statement. BYJU'S has also been announced as an official sponsor of the 'FIFA World Cup Qatar 2022'. In March, the company raised $800 million in a pre-IPO round and in a rare gesture, Raveendran financed $400 million investment in the company through a debt he raised from multiple international banks, as the edtech giant planned for an IPO (which has now been delayed owing to global macro-economic factors and economic slowdown). The company is also reportedly in talks to raise another $1 billion as it expands globally. The latest development comes as edtech companies like BYJU's-run WhiteHat Jr, Unacademy, Vedantu, and Lido Learning, are at the forefront of laying off employees, in the name of "restructuring" as funding winter grips the Indian startup ecosystem. The situation is set to get worse with recession looming and funding drying up. Overall, edtech platforms in India have laid off more than 3,000 employees and over 7,000 workers have lost jobs in the overall startup industry to date. SEE ALSO <a href="http://www.businessinsider.in/finance/banks/news/citi-kotak-icici-and-other-investment-banks-earned-2600-crore-through-ipos-last-year/articleshow/91887303.cms" data-type="tilCustomLink" style="">Indian companies raised $14 billion via IPOs and their i-bankers made $300 million in fees</a> <a class="tout-title-link" href="https://www.businessinsider.in/business/corporates/news/nykaa-to-face-competitive-heat-but-its-omni-channel-experience-maybe-the-game-changer/articleshow/91883946.cms" style="">Nykaa to face competitive heat but its omni-channel experience maybe the game changer</a> <a class="tout-title-link" href="https://www.businessinsider.in/cryptocurrency/news/indian-government-looking-for-ways-to-tax-nfts-as-per-a-new-report/articleshow/91882530.cms" style="">After cryptos, the taxman could come for your NFTs says a new report</a>

World's highest valued edtech startup Byju's to divert focus on global businesses as Indian market is shrinking

<ul><li><keyword id="982553" type="General" weightage="20" keywordseo="indian-startups" source="Orion">Indian startups</keyword> raised only $1.6 billion in April 2022, which is almost half of the capital raised last year in the same period.</li><li>VerSe Innovation — the parent company of Dailyhunt and Josh — raised the biggest funding round last month.</li><li>Indian startups are currently facing pressure from investors to focus on profitability, We Founders Circle’s Gaurav VK Singhvi added.</li></ul>Things are not as bright for the Indian startup ecosystem as they were last year. The segment which thrived during the pandemic is now facing the brunt of the Russia-Ukraine war, leading to a slowdown in their capital raising ability. According to the latest report by IVCA-EY, Indian startups raised only $1.6 billion in April 2022. This is almost half of the capital raised by the same ecosystem in April 2021. To make matters worse, no company entered the <keyword id="152045" type="General" weightage="20" keywordseo="unicorn" source="Orion">unicorn</keyword> club last month whereas April 2021 had flagged off the momentum of unicorn creation last year with eight new additions. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Month </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Number of Unicorns </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Unicorns Created </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">April 2021 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">8 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Meesho, PharmEasy, CRED, Groww, ShareChat, Gupshup, Chargebee, Urban Company, </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">April 2022 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nil </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source: Media reports <cmsannotation type="cmsannotation" annotationid="Slowdown in unicorn creation" comment="subhead" text="Slowdown in unicorn creation">Slowdown in unicorn creation</cmsannotation> According to several experts Business Insider spoke to, the <a href="https://www.businessinsider.in/business/startups/news/he-slowdown-in-unicorn-creation-may-be-there-for-the-next-two-months-too/articleshow/91116175.cms">slowdown in unicorn creation </a>is likely to continue all through the second quarter till June 2022 but this is not something to worry about. Gaurav VK Singhvi, cofounder of investment firm We Founder Circle, further explained that the startup market has been witnessing an upward trend for the last 18 months and “now for a few months it looks a little slow”. He also specified that the trend would be quite positive in the long term and more unicorns may be created this year. But there is more to it than just the number of unicorns. <cmsannotation type="cmsannotation" annotationid="Even higher valuation may be an issue" comment="subhead" text="Even higher valuation may be an issue">Even higher valuation may be an issue</cmsannotation> The decline in funding in April 2022 is majorly because of the decline in large funding rounds. VerSe Innovation — the parent company of Dailyhunt and Josh — raised the biggest funding round last month when it bagged $805 million at a<a href="https://www.businessinsider.in/business/startups/news/josh-dailyhunt-parent-company-verse-raises-805-million-takes-valuation-to-5-billion/articleshow/90675633.cms"> valuation of $5 billion</a>. This represented nearly half of the capital raised by Indian startups in April. While Dailyhunt has been able to increase its valuation amid this funding slump, not all have been able to do so. According to Media reports, ecommerce company Meesho has been trying to close another funding round at a valuation of around <a href="https://timesofindia.indiatimes.com/business/india-business/meesho-to-raise-1bn-at-valuation-of-8bn/articleshow/87859070.cms">$8 billion</a> but no investor is willing to accord it to the company at the moment. Instead, the investors are unwilling to accord any higher valuation to Meesho — which was valued at $4.9 billion last year — due to its monthly cash burn rate of $46 million. Singhvi of We Founder Circle explained that several startups have ignored their bottom line for a long time and the investors are now putting pressure on these companies to focus on their finances and numbers. “Revenue is all good but now they are looking at profitability and long term sustenance,” he added. <cmsannotation type="cmsannotation" annotationid="Layoffs come off as a rescue plan for several startups" comment="subhead" text="Layoffs come off as a rescue plan for several startups">Layoffs come off as a rescue plan for several startups</cmsannotation> Several companies have already started preparing for the worse. According to Business Insider’s calculations, Indian startups laid off<a href="https://www.businessinsider.in/business/startups/news/indian-startups-have-already-laid-off-over-5700-employees-in-the-last-four-months/slidelist/90980198.cms"> 6,900 employees</a> in the first four months of 2022. In May alone, unicorns like Vedantu and <a href="https://www.businessinsider.in/india/news/cars24-is-the-latest-unicorn-to-lay-off-600-employees-after-unacademy-and-vedantu/articleshow/91660002.cms">Cars24 fired over</a> 1,200 employees. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Layoff </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Better.com </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3000 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ola </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2,100 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Unacademy </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">925 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Vedantu </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">624 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cars24 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">600 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Trell </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">300 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Lido Learning </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">200 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Furlenco </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">200 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Meesho </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">150 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">OkCredit </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">40 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">8,139 </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source: Media Reports, Company Announcements Vamsi Krishna, chief executive officer and co-founder of Vedantu, in a<a href="https://www.businessinsider.in/business/startups/news/after-unacademy-vedantu-has-laid-off-600-people/articleshow/91643403.cms?utm_source=google_newsstand&amp;utm_medium=google_rssfeed&amp;utm_campaign=news_referral"> blog post noted </a>that they had to take this harsh decision since capital may be scarce in the upcoming quarters due to “war in Europe, impending recession fears, and Fed rate interest hikes”. Yogita Tulsiani of iXceed Solutions and Sarbojit Mallick of Instahyre emphasised that there are more layoffs to come in the near future. Tulsiani, the managing director and cofounder at global tech-recruiter provider iXceed Solutions, noted that both low-funded and highly-funded startups would be impacted by this drive as most companies carried out aggressive hiring drives during the start of the pandemic and are not able to handle their workforce now. Each company has a long term plan and unprecedented scenarios such as the events happening now can impact their hiring and team sizes, Sarbojit Mallick, cofounder of advanced hiring platform Instahyre, added. He noted that the plan would also include consolidation of internal departments, streamlining of operations and tightening of the gaps. “The fear [for the workforce] is further mounted by rationalisation in funding which will weed out quality companies and hence lead to winding up of some startups,” Neha Khanna, director at management consultancy firm ValPro, concluded. SEE ALSO <a href="https://www.businessinsider.in/business/news/heatwave-has-turned-acs-from-a-luxury-to-a-necessity-but-margins-remain-muted-for-the-players/articleshow/91655568.cms">Heatwave has turned ACs from a luxury to a necessity — but margins remain muted for the players</a> <a href="https://www.businessinsider.in/tech/news/the-state-of-uttar-pradesh-and-how-its-been-feeding-facebook-ad-revenues/articleshow/91660700.cms">The state of Uttar Pradesh and how it’s been feeding Facebook ad revenues</a> <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/prudent-corporate-advisory-services-surprises-ipo-investors-with-nearly-5-listing-gains/articleshow/91678900.cms">Prudent Corporate Advisory Services surprises IPO investors with nearly 5% listing gains</a>

The worst for Indian startups is yet to come — be prepared for layoffs, unicorn slowdown and startup shutdowns in 2022

End-to-end <keyword id="14180048" type="General" weightage="20" keywordseo="global-delivery-management-platform" source="Orion">global delivery management platform</keyword> <keyword id="3966270" type="General" weightage="100" keywordseo="fareye" source="Orion">FarEye</keyword> has laid off nearly 250 <keyword id="6357081" type="General" weightage="20" keywordseo="employees" source="Orion">employees</keyword> amid the funding winter that has engulfed the startup ecosystem. The company has asked some of its workforce to leave because of "strategic realignment" to focus on areas that drive maximum value. In a statement to IANS, <keyword id="357637" type="General" weightage="50" keywordseo="kushal-nahata" source="Orion">Kushal Nahata</keyword>, CEO and Co-founder, FarEye, said the platform "had to make some hard decisions to reduce its team across operations and services". "We are strengthening our core competencies, deepening our focus on product differentiation, and automation, and optimizing the effort required to manage operations," Nahata added. FarEye, a global SaaS platform provider transforming last-mile logistics, was established in 2013 by Nahata, Gautam Kumar and Gaurav Srivastava. In May last year, it raised $100 million in its series-E funding round led by TCV and Dragoneer Investment Group. Existing investors -- Eight Roads Ventures, Fundamentum and Honeywell -- also participated in the round. "The funding is very timely for the delivery and logistics sector as we have seen consumers spending $861 billion online with US retailers in 2020, up 44 per cent from $598 billion in 2019," Nahata had said. Several startups and unicorns have laid off sections of their workforce as they grapple with global macro-economic factors. As VC money disappears amid economic slowdown, more than 10,000 employees have lost jobs at the Indian startups led by edtech platforms like Unacademy, BYJU's, Vedanta and others. Several large investment firms like <keyword id="122716" type="General" weightage="50" keywordseo="sequoia-capital" source="Orion">Sequoia Capital</keyword>, Lightspeed Venture Partners, Craft Ventures, and Y Combinator etc have sent memos and footnotes to their portfolio companies and startups on tightening their belts. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/india/news/tn-undertakes-a-mega-vaccination-drive-to-innoculate-13-8-lakh-people/articleshow/92170531.cms">TN undertakes a mega vaccination drive to innoculate 13.8 lakh people</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sustainability/article/opinion-how-upcycling-food-waste-or-surplus-to-animal-feed-can-bring-down-the-carbon-footprint-of-the-food-sector/articleshow/92156859.cms">OPINION: How upcycling food waste or surplus to animal feed can bring down the carbon footprint of the food sector</a>

Layoff season continues as logistics mgmt startup FarEye lays off 250 people

At a time when most <keyword id="19950639" type="General" weightage="20" keywordseo="EdTech" source="keywords">EdTech</keyword> platforms are struggling to keep up with the heightened expectations and valuations, EdTech unicorn <keyword id="20575672" type="General" weightage="100" keywordseo="PhysicsWallah" source="keywords" meta.keywordsubtype="org" meta.entityname="PhysicsWallah" meta.hostid="261" meta.entityid="PhysicsWallah">PhysicsWallah</keyword> has announced a huge <keyword id="19913964" type="General" weightage="20" keywordseo="funding" source="keywords">funding</keyword> milestone! With $210 million in funding in a round led by <keyword id="23244857" type="General" weightage="20" keywordseo="Hornbill-Capital" source="keywords" meta.keywordsubtype="org" meta.entityname="Hornbill Capital" meta.hostid="261" meta.entityid="Hornbill Capital">Hornbill Capital</keyword>, the company’s <keyword id="19896943" type="General" weightage="20" keywordseo="valuation" source="keywords">valuation</keyword> has gone up to $2.8 billion, marking a 2.5 times increase from its previous valuation of $1.1 billion. Notable participants in this funding round included <keyword id="19953788" type="General" weightage="20" keywordseo="Lightspeed-Venture-Partners" source="keywords" meta.keywordsubtype="org" meta.entityname="Lightspeed Venture Partners" meta.hostid="261" meta.entityid="Lightspeed Venture Partners">Lightspeed Venture Partners</keyword>, along with existing <keyword id="19900618" type="General" weightage="20" keywordseo="investors" source="keywords">investors</keyword> GSV and WestBridge. <h2>A ray of hope for EdTech</h2>The announcement comes during a period characterised by a funding drought in the Indian edtech sector, where many firms have experienced significant valuation declines. For instance, <keyword id="19958178" type="General" weightage="20" keywordseo="Byjus" source="keywords" meta.keywordsubtype="org" meta.entityname="Byju's" meta.hostid="261" meta.entityid="Byju's">Byju's</keyword>, once a leader in the space, has faced severe challenges, including layoffs and a drop in valuation from $22 billion to approximately $1 billion due to mounting financial pressures and scrutiny over its business practices. Despite their rapid growth and initial success, these companies have encountered hurdles such as increased government oversight, financial difficulties, intensifying competition, and changing consumer preferences. The EdTech market is becoming increasingly competitive, with new players entering the space and offering similar services. Both Byju's and Unacademy have reported financial losses and faced questions about their long-term sustainability. A potential shift in consumer behaviour towards traditional learning methods has also proven to be a major risk. <div type="Article" hostid="261" msid="113515632" title="Promoters to infuse Rs 1,100 crore in Reliance Infra" mstype="2" mssubtype="0"></div>In this context, PhysicsWallah’s success helps underscore the confidence that both existing and new investors have in the company's mission to "democratise education across India." Currently, PhysicsWallah claims to produce an impressive 9,500 hours of educational content weekly, serving a vast student base across 18,808 pin codes in India, which covers nearly 98 percent of all pin codes in the country. <h2>Utilisation of funds</h2>With this new funding, PhysicsWallah aims to enhance its cash reserves to support future growth. The company plans to strategically scale operations, with an emphasis on consolidating its position in the <keyword id="23246795" type="General" weightage="20" keywordseo="education-market" source="keywords">education market</keyword>. PhysicsWallah’s Founder and CEO <keyword id="20119998" type="General" weightage="20" keywordseo="Alakh-Pandey" source="keywords">Alakh Pandey</keyword> expressed enthusiasm about the investment: "Prateek and I are excited to partner with Hornbill Capital and Lightspeed Venture Partners in this journey, and we deeply appreciate the continued trust from WestBridge and GSV." <div type="Article" hostid="261" msid="113262755" title="India&amp;#39;s strong economic recovery is led by fiscal expenditure: DSP MF" mstype="2" mssubtype="0"></div>This round of funding comes as the company is on track to achieve profitability by the financial year 2025. Co-founder Prateek Maheshwari remarked, "This new round of funding will enable us to expand our reach, enhance our technological capabilities, and continue delivering unparalleled learning experiences." As PhysicsWallah prepares to leverage this new funding, it positions itself not just as a leader in the edtech space, but as a transformative force in the educational landscape of India, especially in light of the ongoing challenges faced by competitors like Byju's. (With inputs from PTI)

EdTech revival? PhysicsWallah raises $210 million, catapulting the firm’s valuation to $2.8 billion

New Delhi, As global layoffs deepen, Indian startups are not far behind and have sacked thousands of employees in the past 3-4 months, with many more to be given pink slips in the coming months amid deepening funding winter. In <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword>, more than 21,000 employees have been laid off by more than 70 startups to day, including from unicorns like BYJU'S, <keyword id="6354720" type="General" weightage="80" keywordseo="ola" source="Orion">Ola</keyword>, MPL, Innovaccer, Unacademy, Vedantu, Cars24, <keyword id="2808667" type="General" weightage="50" keywordseo="oyo" source="Orion">OYO</keyword>, Meesho, Udaan and many more. The edtech sector has laid off the most employees, with 16 edtech startups laying off more than 8,000 employees to date. With the onset of January, more and more Indian companies are slashing jobs across the spectrum. The new year has already seen more than 16 homegrown startups sack employees in the country. Social media company <keyword id="3358959" type="General" weightage="80" keywordseo="sharechat" source="Orion">ShareChat</keyword> (Mohalla Tech Pvt Ltd) has laid off 20 per cent of its workforce due to uncertain market conditions. Backed by Twitter, Google, Snap and <keyword id="526777" type="General" weightage="80" keywordseo="tiger-global" source="Orion">Tiger Global</keyword>, ShareChat has about 2,300 employees, and the layoff impacted about 500 people at the company, Healthtech unicorn Innovaccer has sacked nearly 245 employees, or about 15 per cent of its workforce, across teams in India and the US. Innovaccer cofounder and CEO Abhinav Shashank cited an "uncertain macroeconomic environment" as the reason behind the job cuts, according to an internal mail sent to employees and accessed by leading startup news portal Inc42. This was the second layoff at the company in around 4-5 months' time amid the deepening funding winter and recession fears. In September last year, Innovaccer laid off nearly 120 employees, or less than 8 per cent of its workforce. Online food delivery platform <keyword id="6358977" type="General" weightage="50" keywordseo="swiggy" source="Orion">Swiggy</keyword> confirmed that the company is laying off 380 employees as food delivery growth slows. MediBuddy, an end-to-end digital healthcare platform in India, has laid off 8 per cent of its workforce, around 200 people, across all departments as a restructuring exercise. Homegrown online vehicle repair platform GoMechanic, backed by <keyword id="563136" type="General" weightage="50" keywordseo="sequoia-india" source="Orion">Sequoia India</keyword>, has laid off 70 per cent of its workforce as the startup struggles to raise funds amid serious concerns of accounting troubles. The company has asked the remaining staff to work without pay for three months, according to reports. Software-as-a-service (SaaS) voice automation startup Skit.ai has asked more than 115 employees to go, mostly from its India team, as part of the "restructuring process" amid the deepening funding winter. Even IT giant <keyword id="10862" type="General" weightage="50" keywordseo="wipro" source="Orion">Wipro</keyword> has laid off more than 400 fresher employees for poor performance in internal assessment tests. SEE ALSO: <a href="https://www.businessinsider.in/budget/news/budgeting-for-climate-change/articleshow/97378027.cms">Budgeting for the fifth C</a> <a href="https://www.businessinsider.in/business/news/an-app-that-wants-to-turn-fear-of-stock-markets-into-fun-raises-75-lakh-from-sharks/articleshow/97378121.cms">An app that wants to turn fear of stock markets into fun raises ₹75 lakh from sharks</a> <a href="https://www.businessinsider.in/india/news/steps-taken-in-subsidence-hit-joshimath-inadequate-declare-himalayas-eco-sensitive-zone-say-experts/articleshow/97411665.cms">Steps taken in subsidence-hit Joshimath inadequate, declare Himalayas eco-sensitive zone, say experts</a>

70-plus Indian startups show exit door to 21K techies, more pink slips coming

In some cheer for those who have lost jobs in the ongoing funding winter and global macro-economic conditions, most laid-off tech employees have landed new jobs within three months of starting their search. The <keyword id="6384660" type="General" weightage="50" keywordseo="wall-street-journal" source="Orion">Wall Street Journal</keyword> reported, citing a <keyword id="3345871" type="General" weightage="100" keywordseo="ziprecruiter" source="Orion">ZipRecruiter</keyword> survey, that nearly 79 per cent of terminated staff in the tech industry landed a new job within three months. It, whoever, did not divulge information on whether they got new jobs on the same, above or lower pay packages as the industry is reeling under several pessimistic factors, which will continue in 2023. Nearly four in 10 previously laid-off tech workers found jobs less than a month after they began searching, the survey found. "Despite the widespread layoffs, hiring freezes, and cost-cutting taking place in tech, many tech workers are finding reemployment remarkably quickly," <keyword id="12666243" type="General" weightage="50" keywordseo="julia-pollak" source="Orion">Julia Pollak</keyword>, chief economist at ZipRecruiter, was quoted as saying. Workers employed in other industries, like entertainment and leisure, transportation and delivery and manufacturing, also found new jobs quickly, the data showed. Google, Amazon and some other tech companies are set to lay off more workers in early 2023. The ZipRecruiter data also showed that about 5 per cent of laid-off tech workers who found jobs from April to October had spent more than six months hunting for work, down from 26 per cent of those hired between August 2021 and February 2022. Thousands lost jobs amid deepening funding winter in 2022 as massive layoffs by the tech companies this year alone surpassed the levels from the Great Recession the world went through in 2008-2009 that began with the <keyword id="50209" type="General" weightage="50" keywordseo="lehman-brothers" source="Orion">Lehman Brothers</keyword> collapse. More than 91,000 workers in the US tech sector were laid off in mass job cuts in 2022, according to a Crunchbase tally. Over 17,000 tech employees were shown the door in India, led by ed-tech companies like BYJU's, Unacademy, Vedantu and others. The startup ecosystem's funding winter could last another 12 to 18 months. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/kfin-technologies-lists-at-nearly-1-premium-on-bourses-despite-weak-market-sentiment/articleshow/96586058.cms">KFin Technologies lists at nearly 1% premium on bourses despite weak market sentiment</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/international/news/amazon-starts-delivering-orders-by-drones-in-us-states/articleshow/96586213.cms">Amazon starts delivering orders by drones in US states</a>

Most laid-off tech employees have landed new jobs in 3 months: ZipRecruiter survey

As more and more companies across the spectrum sack employees amid the global meltdown, at least 853 tech companies worldwide have laid off about 137,492 employees to date, and the tally is only going north amid recession fears. According to data from layoffs.fyi, a crowdsourced database of tech layoffs, 1,388 tech companies have fired a total of 233,483 employees since the onset of Covid-19, but 2022 has been the worst for the tech sector. As of mid-November, more than 73,000 workers in the US tech sector have been laid off in mass-level job cuts led by companies like <keyword id="399907" type="General" weightage="80" keywordseo="meta" source="Orion">Meta</keyword>, Twitter, Salesforce, Netflix, Cisco, Roku, and others. Robinhood, Glossier, and Better are just a few of the tech companies that have notably trimmed their headcount in 2022, according to Crunchbase. Big Tech companies like Amazon and PC and printer major HP Inc have joined the global layoff season and were set to lay off more than 10,000 and up to 6,000 employees in days to come, respectively. Amazon CEO Andy Jassy has warned employees that there will be more layoffs at the company in early 2023 "as leaders continue to make adjustments". The massive job cuts have hit several divisions, especially the Alexa virtual assistant business reportedly set to lose $10 billion this year as the voice assistant never managed to create an ongoing revenue stream. Alphabet, <keyword id="6355629" type="General" weightage="80" keywordseo="google" source="Orion">Google</keyword>'s parent company, is reportedly gearing up to lay off about 10,000 "poor performing" employees, or 6 per cent of its workforce. According to a report in The Information, Google plans to ease out 10,000 employees through a new ranking and performance improvement plan. In India, nearly 16,000 employees have been asked to go by about 44 startups, led by edtech companies like BYJU'S, Unacademy, and <keyword id="2016957" type="General" weightage="80" keywordseo="vedantu" source="Orion">Vedantu</keyword>, as VC funding dried up. Other tech startups and unicorns that have laid off employees in India include Ola, Cars24, Meesho, LEAD, MPL, Innovaccer, Udaan and more. Meanwhile, thousands of contractual employees have also been let go, making 2022 the harshest year for workers in the technology sector. The startup ecosystem's funding winter could last another 12 to 18 months and the industry may face "a lot of turmoil and volatility", <keyword id="6354742" type="General" weightage="80" keywordseo="flipkart" source="Orion">Flipkart</keyword> CEO Kalyan Krishnamurthy has warned. Indian startups are going through steep hiring cuts and the hiring of permanent employees has dipped by a significant 61 per cent in the last 12 months, according to the annual insights report by <keyword id="15395027" type="General" weightage="80" keywordseo="razorpayx-payroll" source="Orion">RazorpayX Payroll</keyword>, the business banking platform of Razorpay. Only two startups in India, Shiprocket and OneCard, attained unicorn status (valuation $1 billion and above) in the July-September period, according to the latest PwC India report. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/netflix-working-on-brand-new-aaa-pc-game-project/articleshow/95740337.cms">Netflix working on 'brand-new AAA PC game' project</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/binance-looks-to-hire-8k-people-by-2023-end-ceo/articleshow/95716850.cms">Binance looks to hire 8K people by 2023 end: CEO</a>

853 tech firms lay off over 137,492 workers globally, more job cuts coming

More than 32,000 tech workers have been laid off in the US till July this year, including at Big Tech companies like <keyword id="10387" type="General" weightage="80" keywordseo="microsoft" source="Orion">Microsoft</keyword> and <keyword id="399907" type="General" weightage="80" keywordseo="meta" source="Orion">Meta</keyword> (formerly Facebook) and the worst has not been over yet for the tech sector that has seen massive stock sell-off. According to the data compiled by Crunchbase, more than 32,000 workers in the US tech sector have been laid off in mass job cuts, as of late July. "We've included both startups and publicly traded companies that are based in the US. We've also included companies based elsewhere that have a sizable team in the United States, such as Klarna," the analysis said. The layoff includes ride-sharing platform Uber, <keyword id="128682" type="General" weightage="80" keywordseo="netflix" source="Orion">Netflix</keyword> and several cryptocurrency exchanges and lending platforms. Robinhood, <keyword id="4522875" type="General" weightage="80" keywordseo="glossier" source="Orion">Glossier</keyword> and Better are just a few of the tech companies that have trimmed their headcount this year. Since April 1 this year, more than 43,000 workers from 342 tech companies/startups have been laid off across the world and over 13 per cent are from <keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword>, according to latest data compiled by layoffs.fyi, a website that tracks layoffs in startups. In India, more than 25,000 startup workers have lost jobs since the pandemic began -- and more than 11,500 have been fired this year. The layoffs in India are dominated by edtech platforms like Unacademy (1,150 employees), BYJU'S (550 at Toppr and <keyword id="8080458" type="General" weightage="80" keywordseo="whitehat-jr" source="Orion">Whitehat Jr</keyword>) and <keyword id="2016957" type="General" weightage="80" keywordseo="vedantu" source="Orion">Vedantu</keyword> (624), along with ride-hailing platform <keyword id="6354720" type="General" weightage="80" keywordseo="ola" source="Orion">Ola</keyword> (nearly 500), healthcare startup MFine (600) and pre-owned cars platform Cars24 (600), among others. The other Indian startups and unicorns that have laid off employees are Meesho, MPL, Trell and Blinkit (now owned by <keyword id="830092" type="General" weightage="80" keywordseo="zomato" source="Orion">Zomato</keyword>), among others. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/amazon-great-freedom-festival-date-announced-sale-starts-august-6-onwards/articleshow/93268050.cms">Amazon Great Freedom Festival date announced - sale starts August 6 onwards</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/news/swine-flu-resurfaces-in-keralas-wayanad-first-time-in-kannur/articleshow/93267832.cms">Swine flu resurfaces in Kerala's Wayanad, first time in Kannur</a>

Over 32K tech workers fired in US, more than 11K in India this year

After Healthtech platform <keyword id="4951201" type="General" weightage="100" keywordseo="mfine" source="Orion">mFine</keyword> laid off over 50 per cent of its total workforce (more than 500 employees), <keyword id="2976227" type="General" weightage="50" keywordseo="prime-venture-partners" source="Orion">Prime Venture Partners</keyword> which is one of its existing investors said on Monday that this restructuring will give the platform an opportunity to pull through and continue to provide access to quality healthcare. mFine, which raised $48 million (over Rs 356 crore) in Series C funding co-led by <keyword id="10261757" type="General" weightage="50" keywordseo="moore-strategic-ventures" source="Orion">Moore Strategic Ventures</keyword> and BEENEXT with participation from existing investors like Prime Venture Partners in September last year, has let go half of its total workforce and the fired staff is from operations, product and marketing verticals, according to sources. The Bengaluru-based startup has raised close to $75 million across three equity and debt rounds to date. <keyword id="815566" type="General" weightage="50" keywordseo="shripati-acharya" source="Orion">Shripati Acharya</keyword>, managing partner, Prime Venture Partners, told IANS that we are in unprecedented times and the steep change in macro-conditions is particularly difficult on companies who are in active fundraise right now. "Unfortunately, restructuring and layoffs are inevitable in such scenarios and are very hard decisions for entrepreneurs to make. MFine has built a great product which is being used by millions of people and has built a huge hospital network with esteemed doctors," <keyword id="7587" type="General" weightage="50" keywordseo="acharya" source="Orion">Acharya</keyword> said. This restructuring will give mFine "an opportunity to pull through and continue to provide access to quality healthcare", Acharya told IANS. With the layoffs, mFine joins a growing list of startups that have laid off employees as investment shrinks and mindless cash burn comes back to haunt them. Recently, Vedantu, <keyword id="2900267" type="General" weightage="50" keywordseo="byju" source="Orion">BYJU</keyword>'s-owned <keyword id="8080458" type="General" weightage="50" keywordseo="whitehat-jr" source="Orion">WhiteHat Jr</keyword>, Unacademy, CARS24 and more have cut workforce amid high uncertainty in the overall market conditions. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/elon-musk-replies-to-pune-techies-witty-tweet-says-he-does-not-run-the-techies-account/articleshow/91735503.cms">Elon Musk replies to Pune techie's witty tweet, says he does not run the techie's account</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/billionaire-wealth-rose-more-in-2-years-than-in-the-last-23-years-combined/articleshow/91734674.cms">Billionaire wealth rose more in 2 years than in the last 23 years combined</a>

Healthtech platform MFine lays off more than 500 employees amid financial crunch

Another <keyword id="1464841" type="General" weightage="80" keywordseo="edtech" source="Orion">edtech</keyword> startup <keyword id="4248184" type="General" weightage="100" keywordseo="udayy" source="Orion">Udayy</keyword>, backed by <keyword id="80004" type="General" weightage="50" keywordseo="info-edge" source="Orion">Info Edge</keyword>, has shut shop, laying off all 100 employees as schools, colleges and physical tuition centres reopen. Udayy's co-founder <keyword id="6553566" type="General" weightage="50" keywordseo="saumya-yadav" source="Orion">Saumya Yadav</keyword> said that the startup was witnessing the post-pandemic world for the first time as "as the kids went back to school, we faced roadblocks in growing the original model of online, live learning". "After a lot of deliberation, we decided that it's better to shut down the business than to spend more time and capital on it,a Yadav said. The development was first reported by startup news coverage portal Entrackr. The startup has paid employees severance packages and helped them find new jobs. "We are returning the remaining capital, around $8.5 million back to our investors," Yadav was quoted as saying in media reports. The live-learning platform catered to students from Grades 1 to 5. The platform raised $2.5 million in a seed funding round led by Alpha Wave Incubation (AWI), managed by <keyword id="4675626" type="General" weightage="50" keywordseo="falcon-edge-capital" source="Orion">Falcon Edge Capital</keyword> and <keyword id="12772224" type="General" weightage="50" keywordseo="infoedge-ventures" source="Orion">InfoEdge Ventures</keyword>. Udayy is the second edtech startup after Lido Learning to completely shut operations. Led by the edtech platforms, over 8,000 start-up employees have been recently hit by layoffs In India. This includes more than 1,000 employees at WhiteHat Jr, over 600 at Unacademy, over 424 at Vedantu and over 150 at Lido Learning. Another edtech firm FrontRow laid off nearly 150 full-time and contractual employees earlier this week. The Bengaluru-based non-academic upskilling startup fired almost 30 per cent of its workforce, owing to fund crunch and the market downturn. Apart from edtech firms, startups that have laid off employees in the past few months include social commerce platforms Trell (more than 300) and Meesho (150), used cars platform Cars24 (More than 600) and digital health platform Mfine (more than 500), among others.

Edtech startup 'Udayy' lays off all 100 employees as schools, and colleges physically reopen

<ul><li>Founded by <keyword id="45125" type="General" weightage="80" keywordseo="jhunjhunwala" source="Orion">Jhunjhunwala</keyword> and Nikhil Naik, the ed-tech start-up raised $7.5 million in Series A funding.</li><li>The company will use the funds to scale up and accelerate hiring across the teams in multiple geographies.</li><li>It was recently listed by HolonIQ on its annual list of the 100 most promising EdTech start-ups from India &amp; South Asia.</li></ul>Early learning ed-tech platform <keyword id="12296471" type="General" weightage="100" keywordseo="creative-galileo" source="Orion">Creative Galileo</keyword> on Thursday said that it has raised $7.5 million in Series A funding. The funding was led by Kalaari Capital, Affirma Capital, East Ventures, Valiant Employee Investment Fund and angel investors.The ed-tech start-up has so far raised $10 million, including a pre-series A round of $ 2.5 million in October last year. Creative Galileo will use the funds to scale up and accelerate hiring across the teams in multiple geographies. It will also introduce regional languages and further strengthen the research and development of the platform. “In the last year, we have successfully built and provided millions of children access to high-quality content in our Digital and Educational Equality mission. We want to enable bespoke learning for children across the globe through their favourite characters to strengthen their foundation during their early years,” said <keyword id="14517914" type="General" weightage="50" keywordseo="prerna-a-jhunjhunwala" source="Orion">Prerna A Jhunjhunwala</keyword>, founder of Creative Galileo. The company was founded in July 2020, during the Covid-19 pandemic, by Jhunjhunwala and Nikhil Naik. Creative Galileo is a character-based early learning platform for kids in the ages 3-10, and claims to have over 7 million downloads and 7,00,000 monthly active users in just over a year. Creative Galileo was recently listed by HolonIQ on its annual list of the 100 most promising EdTech start-ups from India &amp; South Asia. “We are excited to strengthen our partnership with Prerna and Nikhil as they continue their journey of transforming learning experiences for children across the globe. In the last six months, they have achieved strong growth with low marketing spends. This is a testament to the founders' relentless focus and strong execution,” said Vani Kola, managing director, Kalaari Capital. The funding comes amid a massive churn in India’s ed-tech sector. Companies like <keyword id="2900267" type="General" weightage="50" keywordseo="byju" source="Orion">Byju</keyword>’s, Unacademy and WhiteHat jr have resorted to mass lay-offs to cope with a crash crunch. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/india-sealed-ma-deals-worth-104-3-bn-this-year-raised-6-bn-from-ipos/articleshow/93029011.cms">India sealed M&amp;A deals worth $104.3 bn this year, raised $6 bn from IPOs</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/strong-corporate-earnings-drive-markets-higher/articleshow/93028512.cms">Strong corporate earnings drive markets higher</a>

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

<ul><li><keyword id="3395125" type="General" weightage="20" keywordseo="cuemath" source="Orion">Cuemath</keyword> has raised $57 million from Alpha Wave Global, at a valuation of $407 million.</li><li>The <keyword id="1464841" type="General" weightage="20" keywordseo="edtech" source="Orion">edtech</keyword> startup provides after-school learning programmes for mathematics.</li><li>The Indian edtech firms are expected to face a downwards trend in the near future as schools have reopened.</li></ul>Even as experts expect the edtech industry to take a downward trajectory in the near future, Google-backed math learning startup Cuemath has raised $57 million. The round was led by Alpha Wave Global at a valuation of $407 million, representing more than 2x jump. Existing investors Lightrock India, Sequoia Capital India, Alphabet independent growth fund CapitalG, Manta Ray, and Unitus also participated in the round. The company plans to use the new capital to strengthen its product-pedagogy outcomes, hypergrowth initiatives, acquisition and partnerships. “Cuemath’s latest fundraise is a significant feat given the present industry trends. Valuations have become more realistic with rationalization hitting the market; only those growth-stage startups with solid business fundamentals can now establish trust with VCs," Vivek Sunder, chief executive officer (CEO) of Cuemath, said. Cuemath was founded in 2013 by Manan Khurma and Jagjit Khurma. The edtech startup — the company which has presence in over 70 countries — provides after-school learning programmes for mathematics for Kindergarten to 12th grade. Cuemath, which has raised over $100 million till date, had appointed former Swiggy’s chief operating officer Vivek Sunder as its CEO in 2021. <cmsannotation type="cmsannotation" annotationid="Indian edtech companies staring at a downward trend, say experts" comment="subhead" text="Indian edtech companies staring at a downward trend, say experts">Indian edtech companies staring at a downward trend, say experts</cmsannotation> According to several <a href="https://www.businessinsider.in/business/startups/news/the-edtech-bubble-is-bursting-as-schools-colleges-reopen-and-funds-dry-up/articleshow/91826696.cms">experts and investors Business Insiders</a> spoke to, the Indian edtech firms are expected to face a downwards trend in the near future as schools have reopened. According to a survey by the Ministry of Education, 80% of students found remote learning ‘burdensome’ and also missed their peers. This changing attitude could slow down acquisition of new customers and also threatens the existing base who might shift to an offline mode. “Edtech has received massive traction in terms of funding over the last 2 years, however the ability to create retention on products built by some of them is not promising,” Neha Khanna, director at management consultancy firm ValPro, told Business Insider India. “In such a scenario, it increasingly becomes expensive to acquire a customer given the competitive landscape and the value ascribed to each customer may not be commensurate with such acquisition costs,” she added. The edtech industry is also expected to be the biggest source of layoffs in the Indian startup ecosystem. So far, edtech companies like Unacademy, Vedantu and Front Row have already laid off about 1,700 people. SEE ALSO <a href="http://www.businessinsider.in/business/startups/news/this-startup-which-makes-satellite-launches-cheaper-and-faster-raises-funds-to-start-commercial-operations/articleshow/91937856.cms" data-type="tilCustomLink">This startup which makes satellite launches cheaper and faster raises funds to start commercial operations</a> <a class="tout-title-link" href="https://www.businessinsider.in/business/telecom/news/mukesh-ambanis-jio-lags-behind-airtel-which-is-the-top-telecom-brand-in-india/articleshow/91935279.cms">Mukesh Ambani's Jio lags behind Airtel which is the top telecom brand in India</a> <a href="http://www.businessinsider.in/business/corporates/news/zomato-paytm-nykaa-and-others-spent-6000-crore-on-their-employees-last-year/articleshow/91931970.cms" data-type="tilCustomLink">Zomato, Paytm, Nykaa and others spent ₹6,000 crore on their employees last year</a>

You Searched For "unacademy layoffs" and got 12 results

World's highest valued edtech startup Byju's to divert focus on global businesses as Indian market is shrinking

IANS

The worst for Indian startups is yet to come — be prepared for layoffs, unicorn slowdown and startup shutdowns in 2022

Kritti Bhalla

Layoff season continues as logistics mgmt startup FarEye lays off 250 people

IANS

EdTech revival? PhysicsWallah raises $210 million, catapulting the firm’s valuation to $2.8 billion

BI India Bureau

70-plus Indian startups show exit door to 21K techies, more pink slips coming

IANS

Most laid-off tech employees have landed new jobs in 3 months: ZipRecruiter survey

IANS

853 tech firms lay off over 137,492 workers globally, more job cuts coming

IANS

Over 32K tech workers fired in US, more than 11K in India this year

IANS

Healthtech platform MFine lays off more than 500 employees amid financial crunch

IANS

Edtech startup 'Udayy' lays off all 100 employees as schools, and colleges physically reopen

IANS

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

Vaamanaa Sethi

Google-backed Cuemath valued at $407 million as experts expect edtech slump

Kritti Bhalla