EDTECH
Why is India outpacing China, US, EU and Germany?
Despite a slight moderation to 6.3% in FY26, India's economic growth remains robust, outpacing global trends. Fueled by strong domestic consumption, a favorable demographic dividend, and government-led capital expenditure, India stands out as the fastest-growing major economy. However, risks like oil import dependence and a weak export sector persist amid global economic turbulence.
Former startup execs bag $101 million in seed funds for new ventures in 2024, up 243% YoY: Report
According to a report by data intelligence platform Tracxn, former executives at startups who have floated their own ventures are 3X more likely to bag seed funds than others. The funding boost comes on the back of ESOP buyback-led liquidity, desire for new opportunities, return of talent from the US, and the impact of mass layoffs.
Meesho’s reverse flip may conclude this week; likely to file IPO papers this month, say sources
The Bengaluru-based ecommerce marketplace is eyeing a $700-800 million IPO, but the issue size and the timelines could change depending on the market conditions. Meesho is likely to file the papers under Sebi’s confidential route.
'Balika Vadhu' star Avika Gor engaged to IIM graduate: Who is Milind Chandwani? His career, education, qualification
Television actress Avika Gor, known for her role in Balika Vadhu, has announced her engagement to longtime boyfriend Milind Chandwani. The couple, who met in Hyderabad in 2020, shared joyful moments from their private ceremony on social media. Milind, an IIM Ahmedabad graduate and former software engineer, is also a social activist and founder of the NGO Camp Diaries. He gained public attention through MTV Roadies Real Heroes in 2019.
Around 46% of Indian professionals self-fund learning initiatives, says TeamLease Edtech report
A recent TeamLease Edtech report reveals a significant trend of Indian professionals self-funding upskilling initiatives, with 46% choosing this route despite only 23.9% of employers offering full sponsorship. The survey of over 14,000 professionals indicates that 84% engaged in upskilling, leading to positive appraisal outcomes for 64%. Notably, 42% experienced career advancements within 18 months, highlighting upskilling's impact.
Less than 1 in 4 employers sponsor upskilling: Report
A TeamLease Edtech report reveals a gap in employer-sponsored upskilling, with only 23.9% fully funding programs. Consequently, 46% of professionals self-fund their learning, driven by career goals. Upskilling positively impacts performance, with 64% reporting improved appraisals and 42% securing promotions or salary hikes.
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The appraisal-linked learning economy: Why employees who learn earn more
Upskilling has become essential for career growth, with professionals who invest in learning programs experiencing significantly higher appraisal increments. The skills gap, affecting both technical and soft skills, poses a challenge to business transformation. Continuous learning is crucial for staying relevant, unlocking opportunities, and securing a place in the evolving economy, benefiting both individuals and organizations.
Qcomm cos on govt radar; Tata upskills in Taiwan
Happy Wednesday! The government may step up surveillance on quick commerce dark stores over rising hygiene concerns. This and more in today’s ETtech Morning Dispatch.
Byju’s US assets Epic and Tynker sold for a song
Computer science education company CodeHS has acquired Tynker for $2.2 million in cash, a significant drop from the $200 million that Byju’s paid in a cash-and-stock deal to acquire it in 2021. Epic, which was acquired by Byju’s in 2022 through a $500-million cash-and-stock transaction, has been sold to China's TAL Education Group for $95 million.
Fire sale at Byju’s; Meesho’s pre-IPO move
Troubled edtech startup Byju’s is selling its US assets at steep losses, mandated by a US bankruptcy court. This and more in today’s ETtech Top 5.
Cyril Amarchand Mangaldas appoints former Disney executive Mihir Rale as Partner, Co-Head of Digital/ TMT
Mihir Rale, former Disney and Star India General Counsel, has joined Cyril Amarchand Mangaldas as a Partner and Co-Head of the Digital | TMT practice. Based in Mumbai, he brings over two decades of expertise in technology, data, and media.
PhysicsWallah’s acquisition talks with Drishti IAS falls through; Drishti to continue as an independent company
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.
ETtech Deals Digest: Startups raise $142.7 million this week, up 8.5% on-year
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.
Scroll. Swipe. Stake: How Gen Zs and Millennials Are Reinventing Investing
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.
Riju Ravindran moves NCLT, alleges GLAS Trust has no authorisation to represent its US-based lenders
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".
AI-driven search ad spending set to surge to $26 billion by 2029, data shows
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.
Aakash moves NCLT to implead EY in oppression, mismanagement case filed by Byju's
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 files IPO papers via confidential filing route; seeks to raise up to $200 million
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.
Engineers at frontlines of AI are least optimistic about it, shows report
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.
Education financing startup GyanDhan raises Rs 50 crore from edtech firm Classplus, VC fund Pravega Ventures
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.
Can frequent job changes hurt your career growth? Employee shares his major career regrets on Reddit
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 appoints Jitendra Kumar as CTO to lead AI-first strategy
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.
Top tech and startup stories this week
Welcome to a new edition of ETtech Unwrapped – our weekend newsletter packed with the most important stories this week. Let’s take a look.
SC refuses stay on embattled edtech startup Byju’s insolvency case
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 launches third cohort with Rs 20 lakh grants for young founders
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.
IPO bound Imarticus Learning acquires MyCaptain
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.
Unacademy founders’ shift to AirLearn, Jain’s offline role are strategic: Gaurav Munjal to employees
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.
Exclusive: Unacademy founders Munjal, Saini set to exit, shift focus to AirLearn
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.
Unacademy founders exit; Ola Electric’s freefall
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.
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