Mint Explainer: India's edtech crisis may be more severe than appears5 min read . Updated: 19 Jul 2022, 09:43 AM IST
- It's not just a funding winter. The crisis for edtech runs much deeper with the return of offline coaching. Even well-funded unicorns are under pressure to reinvent.
It's a reality check for Indian edtech startups. Not long ago, during the pandemic, they were the toast of investors. But now the funding is ebbing in double-quick time. Edtech unicorns Vedantu and Unacademy have confessed that funding lines are drying up. Byju Raveendran, the founder of Byju's, had to cough up half of the capital in the latest $800 million funding round, and the round has still not closed. Suddenly, retrenchments, right-sizing and cost-cutting have become the new mantras for edtech.
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