Edtech

Discussions for PhysicsWallah's acquisition of Drishti IAS, a prominent UPSC test preparation platform, have concluded without a deal. Drishti IAS, citing a long-term vision, will continue operating independently after exploring various funding options.

Startups across seed, early and late stages raised the funds through 14 deals, compared to 64 in the year-ago period. Top deals across the week included Syfe, Udaan, Pepperfry and Stable Money.

A recent World Economic Forum report reveals that younger investors find crypto more understandable than traditional investments. Millennials and Gen Z, digital natives, are actively building wealth through emerging technologies like blockchain and DeFi. India, a Web3 hub with over 1,200 startups, sees youth driving this innovation, seeking transparency and ownership.

In his petition, Ravindran has alleged that GLAS Trust has "fraudulently represented itself to be a financial creditor" and has requested the National Company Law Tribunal to direct it to "prove its authority to represent the creditors before it".

Companies that rely on traditional keyword-based search ads could experience revenue declines due to the growing popularity of AI search ads, which offer greater convenience and engagement for users, according to the research firm.

Think and Learn has filed a Company Petition before the Bengaluru Bench of the National Company Law Tribunal (NCLT) against AESL, alleging "oppression and mismanagement" in the affairs of the company under Sections 241 and 242 of the Companies Act, 2013. Think and Learn is a minority shareholder of Aakash Educational Services, which operates 316 centres throughout the country.

Aequs, an Indian contract manufacturer for aerospace and consumer goods, has confidentially filed draft papers with SEBI to raise approximately USD 200 million through an IPO. The offering includes both fresh equity shares and an Offer For Sale component. Kotak Mahindra Capital, JM Financial, and IIFL Capital will manage the IPO.

Despite engineers driving AI adoption in India, they express anxiety about its impact on their careers, contrasting with the optimism of MBA and B Com graduates. The rise in job switching is fueled by technological disruption, competition, and unmet salary expectations.

The funds will be used to scale operations, strengthen its consultant partnership network, expand the team, and invest in technology. New Delhi-based GyanDhan has so far extended loans worth over Rs 7,000 crore to Indian students studying in India and abroad.

A marketing professional recently shared his career regrets on Reddit after quitting his job in the edtech sector. He cited low starting pay, frequent job changes, and a lack of leadership experience as key mistakes. Now considering a career switch through an Executive MBA, he asked the community for advice. Reddit users shared similar experiences, offered suggestions, and debated the pros and cons of switching fields. The post sparked a thoughtful discussion on job stability, skill development, and career growth.

Simplilearn has appointed Jitendra Kumar as its CTO to lead the company's AI-first transformation. Kumar, who previously worked at Simplilearn, will focus on embedding AI technologies to personalize learning and scale global impact. His experience includes co-founding HappyCredit and building ReelOn, an AI-powered video content creation platform.

Welcome to a new edition of ETtech Unwrapped – our weekend newsletter packed with the most important stories this week. Let’s take a look.

The Supreme Court has declined to stay the insolvency process of Think & Learn, Byju’s parent firm, despite appeals from BCCI and co-founder Riju Raveendran seeking withdrawal. The Court has sought responses from creditors and resolution professionals, with further hearing scheduled for July 21. Allegations of procedural irregularities persist.

WTFund, India’s platform for entrepreneurs under 25, has opened applications for its third cohort, offering Rs 20 lakh non-dilutive grants, mentorship, and industry access. Founded by Nikhil Kamath, WTFund supports early-stage startups across sectors like health tech and AI, with applications open until May 31.

Imarticus Learning has acquired edtech startup MyCaptain for Rs 50 crore to expand its presence in non-tech career training, especially in India’s tier 2 and 3 cities. The acquisition boosts Imarticus’ reach with 60+ live programmes, over 850 staff, and aims to serve 5 million learners in three years.

Munjal sent an email to Unacademy’s employees to set to rest speculation of impending layoffs at the company. The Unacademy board had been in talks with Munjal for over a year about his potential exit, given his lack of interest in running an offline coaching business.

Unacademy cofounder Gaurav Munjal is stepping down as CEO, with Sumit Jain taking over amid a company reset and focus on AirLearn. Fellow cofounder Roman Saini is also exiting an active role. This leadership change follows internal discussions and a shift from online test prep to physical centers, impacting the edtech's business.

Happy Wednesday! Unacademy cofounders are planning to exit the edtech firm as the company expands its offline footprint. This and more in today’s ETtech Morning Dispatch.

But the other apps of the embattled edtech company, including Byju’s Exam Prep, which supports students preparing for competitive exams like the IAS, MBA, and UGC NET, and the Think and Learn Premium app, continue to remain available on the platform.

The coding bootcamp boom of 2021-22, fueled by high demand for software engineers, has cooled as generative AI reshapes the industry. Many startups have closed or pivoted, while others focus on AI-driven skills. Despite India's large pool of engineers, only a fraction are job-ready, highlighting the challenge of adapting to evolving tech demands.