https://thenfapost.com News, Facts and Analysis on Startup, Technology & Business Sat, 07 Oct 2023 12:58:15 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.2 The NFA Post News, Facts and Analysis on Startup, Technology & Business clean https://thenfapost.com/2023/10/07/edtech-firm-byjus-to-lay-off-4000-employees-in-major-restructuring/ Sat, 07 Oct 2023 12:40:50 +0000 https://thenfapost.com/?p=308515 The restructuring exercise will be undertaken by Arjun Mohan, who was recently elevated as chief executive officer (CEO) of its India business, replacing Mrinal Mohit, according to the sources Bengaluru, NFAPost: Byju’s has decided to lay off around 4,000 employees or over 11 per cent of its total workforce over the next few weeks as […]]]> https://thenfapost.com/2023/08/19/in-fresh-round-of-layoffs-edtech-giant-byjus-lets-go-of-100-employees/ Sat, 19 Aug 2023 08:02:57 +0000 https://thenfapost.com/?p=295254 Last year, Byju’s laid off about 600 at its group companies – WhiteHat Jr and Toppr. It said this was a move to drive cost efficiency Bengaluru, NFAPost: Byju’s has handed the pink slip to 100 employees in a fresh round of layoffs, post a performance review. However, according to a media report, the edtech […]]]> https://thenfapost.com/2023/07/18/govt-orders-inspection-of-byjus-amid-financial-corp-governance-concerns/ Tue, 18 Jul 2023 02:16:42 +0000 https://thenfapost.com/?p=285614 The official also said that further course of action will be decided after receiving the inspection report New Delhi, NFAPost: The corporate affairs ministry has ordered an inspection of the books of BYJU’S, a senior government official said on Monday amid the edtech major facing multiple headwinds, including delay in submitting financial statements and concerns […]]]> https://thenfapost.com/2023/07/10/flipkart-cofounder-binny-bansal-invests-3-5-million-in-leverageedu/ Mon, 10 Jul 2023 01:30:09 +0000 https://thenfapost.com/?p=283350 LeverageEdu, which facilitates overseas education, closed the financial year 2023 with a revenue of about Rs 110 crore Bengaluru, NFAPost: Flipkart cofounder Binny Bansal has invested $3.5 million (about Rs 29 crore) in edtech firm LeverageEdu, sources aware of the development said. Bansal made the investment through his venture capital firm Three State Ventures at […]]]> https://thenfapost.com/2023/06/27/ksum-backed-edtech-startup-secures-rs-2-25-crore-angel-funding/ Tue, 27 Jun 2023 11:38:57 +0000 https://thenfapost.com/?p=280064 Kochi, NFAPost: One-to-one online learning platform INTERVAL, a start-up under the Kerala Startup Mission (KSUM), has garnered Rs 2.25 crore in a pre-seed fundraising round headed by prominent angel investors from the United Arab Emirates (UAE), demonstrating the growing international interest in the Indian edtech space. The funding will enable INTERVAL, which encompasses over 1,000 […]]]> https://thenfapost.com/2023/06/01/edtech-major-byjus-lenders-scrap-talks-to-restructure-1-2-billion-loan/ Thu, 01 Jun 2023 14:23:24 +0000 https://thenfapost.com/?p=271950 Byju’s has to make an interest payment on the loan by June 5 Mumbai, NFAPost: Creditors to Byju’s, India’s most valuable startup, have pulled out of negotiations with the company to recast a $1.2 billion loan, posing a new setback to the beleaguered tech firm, according to people familiar with the matter. The talks were […]]]> https://thenfapost.com/2023/05/18/leverage-edu-launches-univalley-os-for-universities/ Thu, 18 May 2023 12:09:19 +0000 https://thenfapost.com/?p=267334 London, NFAPost: Leverage Edu, the leading migration-tech platform for higher education, launched Univalley OS, the world’s most comprehensive operating system for universities. Univalley OS is a University Saas solution that enables universities to streamline and automate their student recruitment processes, from application assessment to payment tracking to visa issuance. Univalley OS leverages artificial intelligence to […]]]> https://thenfapost.com/2023/05/01/byju-raveendran-asserts-company-brought-rs-28000-cr-fdi-to-india-with-regulatory-compliance/ Mon, 01 May 2023 14:36:20 +0000 https://thenfapost.com/?p=260921 Bengaluru, NFAPost: Amid the ongoing ED enquiry under FEMA (Foreign Exchange Management Act), edutech major Byju’s Founder and CEO Byju Raveendran said the company brought Rs 28,000 crore FDI to India with due regulatory compliance. In a letter to his employees, Byju’s Founder and CEO Byju Raveendran said the company didn’t violate any law as […]]]> https://thenfapost.com/2023/04/05/eruditus-becomes-second-largest-revenue-grossing-edtech-firm/ Wed, 05 Apr 2023 01:59:12 +0000 https://thenfapost.com/?p=254598 New Delhi, NFAPost: Eruditus becomes India’s second-largest revenue-grossing edtech firm after it reported an 87% increase in its operating revenue for FY22 at $245.2 million. This is higher than the FY22 revenues reported by edtech unicorns such as Unacademy, Physics Wallah, upGrad, and Vedantu. However, it is lower than the FY21 revenue reported by BYJU’S, […]]]> https://thenfapost.com/2023/01/23/indias-startup-funding-in-2022-double-pre-pandemic-level-pwc/ Mon, 23 Jan 2023 02:45:24 +0000 https://thenfapost.com/?p=232795 21 startups entered the unicorn club in 2022, highest from SaaS category New Delhi, NFAPost: Indian startup funding in 2022 was double the pre-pandemic level, according to the consultancy firm PwC. Compared to $12.8 billion in 2019, startups in India raised $24 billion in the calendar year 2022 (CY22). However, it was 33% less than […]]]>