Edtech company upGrad has successfully raised an additional $60 million from Singapore’s Temasek, maintaining its valuation at $2.25 billion. This funding marks a significant boost for the company as it continues to expand its offerings in higher education and skill development.
Key Developments
Temasek’s Investment
The fresh investment comes amid upGrad’s efforts to strengthen its position…
In the rapidly evolving landscape of education, artificial intelligence (AI) is not just a buzzword—it’s a game-changer. With the global AI in education market projected to skyrocket from $1.8 billion in 2021 to astronomical heights by 2030, the impact of AI in classrooms worldwide is undeniable. But is AI here to replace teachers or to empower them? Let’s explore how AI is enhancing…
In a candid revelation, Byju Raveendran, the founder of the once-mighty edtech company Byju’s, admitted that his startup, once valued at a staggering $22 billion, is now effectively worth “zero.” Speaking to reporters on Thursday, Raveendran took responsibility for the company’s decline, acknowledging a series of missteps that led to its current state.
Raveendran’s aggressive strategy to…
Adda247, a Google-backed edtech company, has acquired PrepInsta, a platform dedicated to placement preparation, as part of its ambitious strategy to enhance job-focused skilling programs. This acquisition continues Adda247’s trend of strategic expansions, following its previous takeovers of StudyIQ in 2021, Veeksha in 2023, and Ekagrata in July 2024.
Founded in 2019, PrepInsta specializes in…
Adda247, the Google-backed edtech startup, has announced its latest acquisition of PrepInsta, a platform dedicated to placement preparation. This move marks Adda247’s fourth acquisition in recent years, as it aims to position itself as a comprehensive provider of job-focused education and skilling programs for both public and private sector opportunities.
A Growing Edtech Ecosystem
With this…
In a significant legal ruling, the Delaware Supreme Court has determined that Indian edtech giant Byju’s defaulted on a $1.5 billion loan, paving the way for lenders to exercise their rights to recover assets and enforce repayment. The decision, issued on September 23, 2023, grants lenders the authority to take control of Byju’s assets in the United States, specifically Byju Alpha Inc., a…
Berlin-based startup SIRIUS has successfully raised $4 million in Seed funding to enhance the online music education experience for students and teachers alike. Founded in 2020 by data scientist and piano enthusiast Sebastian Riegelbauer, SIRIUS addresses the pressing challenges faced by music teachers and learners, particularly in urban areas where long waiting times for lessons are common.
The…
Edtech unicorn Physics Wallah (PW) has successfully raised $210 million in its latest Series B funding round, which was led by Hornbill Capital. This substantial investment marks a significant leap for the startup, bringing its post-money valuation to an impressive $2.8 billion. The funding round also included participation from Lightspeed Venture Partners and existing investors such as GSV and…
BYJU’S insolvency resolution professional (IRP), Pankaj Srivastava, has removed Glas Trust Co, a consortium of US-based lenders, from the committee of creditors (CoC) overseeing the troubled edtech startup’s bankruptcy proceedings. This decision came after Srivastava determined that Glas Trust did not meet the minimum 51% threshold of lenders required in the $1.2 billion Term Loan B (TLB)…
Byju’s, India’s leading tech giant once valued at $22 billion, is navigating turbulent waters as it appeals against insolvency proceedings initiated by the Board of Control for Cricket in India (BCCI). The National Company Law Appellate Tribunal (NCLAT) in Chennai is scheduled to hear Byju’s appeal on July 29, marking a critical juncture in the company’s ongoing struggle to address…
