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BrightCHAMPS acquires Edjust to expand its global EdTech presence. This strategic acquisition aims to enhance digital learning and introduce a new focus on core academic subjects across 30 countries.

BrightCHAMPS acquires Edjust to boost global expansion in K-12 EdTech

In a key strategic move, BrightCHAMPS acquires Edjust to leverage its AI-driven educational solutions. The acquisition facilitates expansion into 30 countries, aiming to transform K-12 education with a focus on core subjects, enhancing BrightCHAMPS' global presence.

BrightCHAMPS acquires K-12 EdTech platform Edjust to expand globally. Edjust&rsquo;s founders will lead a new vertical for academic subjects. BrightCHAMPS operates in 30 countries, offering courses in coding, AI, and financial literacy.

EdTech platform BrightCHAMPS has acquired Indian K-12 education marketplace Edjust in a cash-and-stock deal, marking its fourth acquisition since its 2020 launch. Previous acquisitions include Education10x (2021), Schola (2022), and Metamorphosis Edu (2023).
Edjust's founders will spearhead efforts to create a new distribution channel, introducing a soon-to-be-announced vertical focused on academic subjects like Math, Science, and English. The goal is to enhance students&rsquo; all-around success and future readiness.
Following the acquisition, Edjust plans to refine its sales model and expand its reach across 30 countries, offering parents engaging digital learning experiences. Founded in 2022 by Dushyant Panchal, Anmol Mittal, and Sanjay Panikar, Edjust combines AI, emotional intelligence, and advanced data analytics to identify parents inclined toward EdTech products, with a strong presence in the US and UK.
BrightCHAMPS, led by CEO Ravi Bhushan, provides online courses in programming, AI, coding, financial literacy, and robotics for children aged 6-16. Operating in 30 countries, including the US, Canada, Southeast Asia, and the Middle East, the startup aims to revolutionize K-12 education globally.
In November 2021, BrightCHAMPS raised $51 million, bringing its total funding to $63 million and valuing the company at $500 million. The acquisition of Edjust is expected to further strengthen its position in the global EdTech market. &nbsp; &nbsp;

OdaClass founder Vedant Hamirwasia as they discuss how this emerging startup is democratising education through technology

Oda Class: EdTech Startup Making Quality Education Accessible & Affordable

OdaClass founder Vedant Hamirwasia as they discuss how this emerging startup is democratising education through technology

In India, quality education often remains expensive and inaccessible. Oda Class, founded in 2019, is aiming to change this through innovative mobile-first learning solutions. With a unique blend of personalised mentorship and live online classes, they've already empowered 50,000 students across India, proving that quality education can be both accessible and affordable. Join Avni Raja in conversation with @OdaClass founder Vedant Hamirwasia as they discuss how this emerging startup is democratising education through technology. From their journey to expectations of exponential growth to their vision of reaching one lakh students, discover how ODA Class is reshaping India's educational landscape.

PhysicsWallah Layoffs 2023: Edtech start-up Physics Wallah (PW) is likely to lay off around 120 employees.

PhysicsWallah Layoffs 2023: Edtech Unicorn Physics Wallah likely amy lay off upto 120 employees

This marks the first significant round of layoffs from Physics Wallah

Physics Wallah may lay off up to 120 employees

<h2>This marks the first significant round of layoffs from Ed-tech giant Physics Wallah.</h2>

PhysicsWallah Layoffs 2023: Physics Wallah, an ed-tech firm, is reportedly considering laying off around 70 to 120 employees due to performance evaluations. This comprises less than 0.8% of its total workforce, which currently stands at approximately 12,000 employees.
The company emphasized its routine practice of assessing performance through cycles and stated that the focus remains on maintaining a dynamic and high-performing team. PW's Chief Human Resources Officer, Satish Khengre, mentioned plans to recruit an additional 1,000 employees in the coming six months.
Also read/watch - <a title="Sam Altman to join Microsoft's AI research team" href="https://www.editorji.com/business-news/sam-altman-to-join-microsoft-s-ai-research-team-1700475045567">Sam Altman to join Microsoft's AI research team</a>
This move aligns with similar actions taken by other edtech giants like BYJU'S and Unacademy in the past.
Khengre acknowledged the importance of the existing employees, expressing gratitude for their dedication and acknowledging their crucial role in shaping the future of educational technology.

In December, upGrad's other subsidiary, Harappa, laid off nearly 30% of its total workforce, which included approximately 60 out of 200 employees

Layoff 2023: Edtech unicorn upGrad cuts 120 jobs amid funding winter 

In December, upGrad's other subsidiary, Harappa, laid off nearly 30% of its total workforce, which included approximately 60 out of 200 employees

As the Edtech industry is struggling to weather the ongoing tech winter, Edtech unicorn upGrad has laid off 120 employees, which is almost 30 per cent of the total workforce, at its subsidiary that was acquired in 2021. This is the second round of layoffs at the Ronnie Screwvala-run edtech company. According to Financial Express, the job cuts are an attempt to cut costs at the subsidiary, Impartus Innovations, which was bought for Rs 150 crore in a cash and stock deal.
A Tracxn report has estimated that 7,000-8,000 employees have been fired by edtech start-ups in this period, including, BYJU&rsquo;S, Toppr, WhiteHat Jr, Unacademy, Vedantu, Practically. Several players like Lido Learning, Udayy, Crejo.Fun, SuperLearn, etc., have also wound up operations due to continuing capital crunch and shifting consumer preferences.&nbsp; UpGrad has been founded by Ronnie Screwvala, Mayank Kumar and Phalgun Kompalli. The Edtech has managed raised over $600 million from Temasek, Bharti Enterprises and Bodhi Tree, among others, and is currently valued at around $2.2 billion.&nbsp;

According to Zippia data, educational services in the United States shed 136,000 employees between June 2021 and June 2022

After tech, layoffs expected in the education sector, says U.S survey

After tech, layoffs in education sector is predicted

According to Zippia data, educational services in the United States shed 136,000 employees between June 2021 and June 2022

After the tech industry feels the pain of the global economic slump, top chief financial officers (CFOs) in the U.S, have warned about job cuts across the board in the education market over the next six months.&nbsp;
According to Coupa, a Cloud-based platform, in the study of 600 CFOs, 100% of CFOs in the education sector answered with &ldquo;decrease staff&rdquo; for steps they need to take in the next six to twelve months to promote growth in the case of a recession, according to Fox Business.
According to Zippia data, educational services in the United States shed 136,000 employees between June 2021 and June 2022. EdTech layoffs in India&nbsp;
Coming to India, Edtech startups in India have laid off thousands of employees in the past year. Notably, SoftBank-backed Unacademy, Tiger Global-backed Vedantu, and edtech decacorn BYJU'S&mdash;valued at $22 billion&mdash;have all downsized their workforce.
In January this year, edtech startup Unacademy also laid off 20% of employees from its subsidiary, Relevel. The layoffs come amid the ongoing funding winter due to which startups around the world are struggling to extend their runways and raise funding before going profitable.

Byju's, India's most valued startup finds itself making headlines for all the wrong reasons. The edtech giant which still has not submitted its audited earnings report for for the year ended March 2021 is  now being questioned by the government as per reports. Bloomberg quoting unnamed sources reports that Ministry of Corporate Affairs has sent a letter to Byju’s asking them to explain the seventeen-month delay in filing audited accounts.Reports indicated that auditor Deloitte had raised 44 concerns in July without which they were not signing off on the audited reports. As per The Ken in a June publication, Deloitte had raised concerns around refunds, loan guarantees and unusual revenue recognition practices.  The delay in filing its FY21 results comes at a time when multiple media reports have suggested that the company is struggling to manage cash for its operations and is resorting to cutting costs aggressively as well as looking at various ways to raise funds.The edtech pioneer has raied over $6 billion over its 12 year lifespan. The $ 22 billion worth unicorn made at least 10 acquisitions for a cumulative transaction value of about $2.5 billion last year.

Byju's now questioned by the govt: Where are your audited earnings?

Byju's get schooled by the govt over 17-month delay in audited earnings

Byju's seventeen-month delay in filing audited accounts

Byju's, India's most valued startup finds itself making headlines for all the wrong reasons. The edtech giant which still has not submitted its audited earnings report for for the year ended March 2021 is&nbsp; now being questioned by the government as per reports.&nbsp; Bloomberg quoting unnamed sources reports that Ministry of Corporate Affairs has sent a letter to <a href="https://www.editorji.com/sports-news/cricket/news-incorrect-bcci-quashes-reports-of-byju-s-pending-payment-1658546416874">Byju</a>&rsquo;s asking them to explain the seventeen-month delay in filing audited accounts. Reports indicated that auditor Deloitte had raised 44 concerns in July without which they were not signing off on the audited reports.&nbsp; As per The Ken in a June publication, Deloitte had raised concerns around refunds, loan guarantees and unusual revenue recognition practices.&nbsp;&nbsp; The delay in filing its FY21 results comes at a time when multiple media reports have suggested that the company is struggling to manage cash for its operations and is resorting to cutting costs aggressively as well as looking at various ways to raise funds. The <a href="https://www.editorji.com/business-news/govt-to-teach-edtech-a-lesson-1657860682117">edtech </a>pioneer has raied over $6 billion over its 12 year lifespan. The $ 22 billion worth unicorn made at least 10 acquisitions for a cumulative transaction value of about $2.5 billion last year.
Read More/Watch : <a href="https://www.editorji.com/business-news/explained-why-google-removed-over-2000-loan-apps-from-india-play-store-1661487880755">Explained: Why Google removed over 2000 loan apps from India Play Store</a> &nbsp;

Already facing funding winters and layoffs, edtechs are in trouble again. The Central government has warned the ed-tech companies against unfair trade practices. 

EdTechs in trouble, Government warns strict action against unfair trade practices

EdTechs in trouble, govt warns strict action against unfair trade practices

Govt to teach Edtech a lesson?

ASCI last month said it analysed 5,532 advertisements in the previous fiscal year, and 33% of complaints pertained to the education sector.

Already facing funding winters and <a href="https://www.editorji.com/business-news/ola-may-layoff-up-to-500-employees-amid-funding-winter-1657077904703" target="_blank">layoffs</a>, edtechs are in trouble again. The Central government has warned the ed-tech companies against unfair trade practices.&nbsp;
The Consumer Affairs Department under the Ministry of Ministry of Consumer Affairs held a meeting on June 24 with <a href="https://www.editorji.com/business-news/this-edtech-startup-shuts-its-operation-fires-all-the-employees-1654155999177" target="_blank">edtech</a> companies raised concerns regarding increasing complaints against such firms from consumers.&nbsp;
Consumer Affairs Secretary said If self-regulation does not curb unfair trade practices, then stringent guidelines would be formulated for ensuring transparency.&nbsp;
Distressed with the low quality of the study material and bad quality tablets provided to children, many parents have complained about Ed techs services they were promised never materlised.&nbsp;
Leading <a href="https://www.editorji.com/business-news/byju-s-big-layoffs-continue-another-1000-gone-from-a-unit-1656560926477" target="_blank">edtech startup, Byjus </a>which has recently self proclaimed its valuation to be around 27 Billion USD has the maximum complaints.&nbsp;

The startup landscape is fast changing, from hot valuations to pinching pennies and downsizing. The 'funding winter' is here this summer and edtech major Unacademy is tightening its belt as the company announced dramatic steps to reduce expenses. In an internal note that has leaked into social media, , Gaurav Munjal, Unacademy's co-founder and chief executive officer, announced that there will be paycuts for founders and management while adding travel restrictions on employees and stopping free meals at offices.The goal has changed. We have to do an IPO (initial public offering) in the next two years. And we have to turn cashflow positive. For that we must embrace frugality as a core value," Munjal added.Unacademy's move to 'pinch pennies' comes just over a month after Munjal had warned employees of a 'funding winter' and asked everyone to brace for a tough 18 months. 

Unacademy slashes spending: No free meals, no business travel, salaries cut

Unacademy slashes spending: No free meals, no business travel, salaries cut as edtech founders teach a lesson in frugality during 'funding winter'

Unacademy founders' publish lesson in frugality 

Munjal told his team that the startup has Rs 2,800 cr of cash, but there are &ldquo;a lot of unnecessary expenses&rdquo;

The startup landscape is fast changing, from hot valuations to pinching pennies and downsizing. The 'funding winter' is here this summer and <a href="https://www.editorji.com/business-news/this-edtech-startup-shuts-its-operation-fires-all-the-employees-1654155999177" target="_blank">edtech </a>major Unacademy is tightening its belt as the company announced dramatic steps to reduce expenses.&nbsp; In an internal note that has leaked into social media, , Gaurav Munjal, Unacademy's co-founder and chief executive officer, announced that there will be paycuts for founders and management while adding travel restrictions on employees and stopping free meals at offices. The goal has changed. We have to do an IPO (initial public offering) in the next two years. And we have to turn cashflow positive. For that we must embrace frugality as a core value," Munjal added.
Also Read/ Watch: <a href="https://www.editorji.com/business-news/ola-may-layoff-up-to-500-employees-amid-funding-winter-1657077904703" target="_blank">Ola may layoff up to 500 employees amid funding winter</a> Unacademy's move to 'pinch pennies' comes just over a month after Munjal had warned employees of a 'funding winter' and asked everyone to brace for a tough 18 months.&nbsp;

Edtech startup, Udayy shuts down its operations and has fired 100-120 employees as kids move back to schools in the post-pandemic world. 
According to reports, the Gurugram- based company has also decided to return up to $8.5 million to its investors, out of the total $13 million raised during its operations.
Founded in 2019 by Karan Varshney, Mahak Garg, and Yadav, the edtech platform offered maths and English training to children in the age group of 6-11 years using an interactive online classroom of 3-5 children in each batch.
Following this, in January 2021, the company raised $2.5 million in a seed funding round led by Alpha Wave Incubation (AWI), managed by Falcon Edge Capital and InfoEdge Ventures.
Is EdTech sinking? So far in edtech, Unacademy has laid off around 1,000 employees, while Lido has shut shop after letting go of around 150 employees. Most recently, Vedantu fired 624 employees, citing a tough macroeconomic backdrop and challenges from offline coaching centres regaining prominence.

Edtech startup Udayy shuts its operation, fires all the employees 

After Unacademy, Lido, Vedantu, Udayy shuts its operation, fires all the employees 

Udayy becomes the sixth firm in the edtech space to lay off a significant proportion of its employees

Edtech&nbsp;startup,&nbsp;Udayy&nbsp;shuts down its operations and has fired 100-120 employees as&nbsp;kids move back to schools in the post-pandemic world.&nbsp;
According to reports, the Gurugram- based&nbsp;company has also decided to return up to $8.5 million to its investors, out of the total $13 million raised during its operations.
Founded in 2019 by Karan Varshney, Mahak Garg, and Yadav, the edtech platform offered maths and English training to children in the age group of 6-11 years using an interactive online classroom of 3-5 children in each batch.
Also read/watch| <a title="NEOM, the city with the tallest building in the world&nbsp;" href="https://www.editorji.com/business-news/neom-the-city-with-the-tallest-building-in-the-world-1654161341746">NEOM, the city with the tallest building in the world&nbsp;</a>
Following this, in January 2021, the company raised $2.5 million in a seed funding round led by Alpha Wave Incubation (AWI), managed by Falcon Edge Capital and InfoEdge Ventures.
Is EdTech&nbsp;sinking?&nbsp; So far in edtech, Unacademy has laid off around 1,000 employees, while Lido has shut shop after letting go of around 150 employees. Most recently, Vedantu fired 624 employees, citing a tough macroeconomic backdrop and challenges from offline coaching centres regaining prominence.

Byju's is buying again and the buzz this time leading to Zee group company Zee Learn. Edtech giant Byju's has already made 10 acquisitions during the pandemic to increase it's K-12+ portfolio.CNBCTV-18 reported quoting sources said India's most valued startup is eyeing majority stake in Zee Learn that is currently plagued with high debt and weakening cash flows and the problems are exacerbated by pledged promoter equity.Zee Learn offers education from preschool up to class 12 across India through brands like Kidzee and Mount Litera. If this acquisition is pursued and successful it would mark Byju's first formal entry into mainstream schooling. Zee Learn operates 130 schools across 110 cities. 

Byju's eyes acquisition of Zee learn; stock surges on reports 

India's most valued startup is eyeing majority stake in Zee Learn that is currently plagued with high debt and weakening cash flows and the problems are exacerbated by pledged promoter equity.

Zee Learn offers education from preschool up to class 12 across India through brands like Kidzee and Mount Litera.

Byju's&nbsp;is buying again and the buzz this time leading to Zee&nbsp;group company Zee&nbsp;Learn. Edtech&nbsp;giant Byju's has already made <a href="https://www.editorji.com/business-news/byju-s-rakes-up-10th-acquisition-for-the-year-geogebra-joins-the-byju-s-bouquet-1639041474737">10 acquisitions</a> during the pandemic to increase its K-12+ portfolio. CNBCTV-18 reported quoting sources said India's most valued startup&nbsp;is eyeing majority stake in Zee&nbsp;Learn that is currently plagued with high debt and weakening cash flows and the problems are exacerbated by pledged promoter equity. Read/Watch Also: <a href="https://www.editorji.com/business-news/year-ender-2021-meet-the-decacorns-as-we-step-into-2022-1640167732445">Meet the Decacorns&nbsp;</a> Zee Learn offers education from preschool up to class 12 across India through brands like Kidzee and Mount Litera. If this acquisition is pursued and successful it would mark Byju's&nbsp;first formal entry into mainstream schooling. Zee&nbsp;Learn operates 130 schools across 110 cities.&nbsp; Read/Watch Also: <a href="https://www.editorji.com/business-news/watch-byju-s-is-a-loan-shark-must-be-monitoried-a-call-for-edtech-regulation-1639539288903">'Byju's is a loan shark must be monitored', a call for edtech regulation</a>

Byju's is getting schooled for it's alleged predatory tactics in acquiring new customers for it's online teaching platform. Taking the stage in Lok Sabha on Tuesday, Member of Parliament (MP) from Tamil Nadu Karti Chidambaram asked the Union Education Minister to monitor and put in place strict regulation for ed tech platforms. The MP said "In fact, this company sponsors the Indian Cricket Team now. You know exactly as to who I am referring to. This company is worth 21 billion dollars. Our entire Indian educational budget is not worth that much. So, it is very essential to have some concerted effort to monitor these companies and prevent them from doing these predatory marketing practices where they are auto-debiting the accounts of unsuspecting people,”The comments come after reports highlighted practices of the edtech giant Byju’s using tactics to make people who can’t afford the products buy them, signing people up for loans they never knew they were signing up for. The BBC in an article published on December 7 questioned these tactics by putting the spotlight on cases that had even taken India's most valued startup to court. The BBC spoke to many parents who said the services they were promised never materialised. In at least three different cases, India's consumer courts have ordered Byju's to pay damages to customers in disputes related to refunds and deficiency of services.Byju's told the BBC that they had reached a settlement in these legal cases, and their grievance redressal rate was 98%.Calls for regulation and monitoring of edtech is not new or specific to India. Mainland China cracked out on edtech and imposed a ban on listing/profiteering from these ventures in a sweeping message that education like healthcare was meant for public good. 

Watch: 'Byju's is a loan shark must be monitored', a call for edtech regulation

The comments come after reports highlighted practices of the edtech giant Byju’s using tactics to make people who can’t afford the products buy them, signing people up for loans they never knew they were signing up for. 

Time to school edtech? Byju's classrooms need a monitor - says MP asking for regulation

Watch: 'Byju's is a loan shark and&nbsp;must be monitored'
MP asks Education Minister&nbsp;to monitor &amp; put strict regulation for ed tech platforms
''Company is worth $21 bn, entire Indian educational budget is not that much''
Comments after reports of parents being pushed into debt burden by Byju&rsquo;s&nbsp;
BBC&nbsp;published these tactics that had taken&nbsp;edtech&nbsp;giant&nbsp;Byju&rsquo;s&nbsp;to court
China cracked out on edtech companies and want them to go non-profit&nbsp;

The comments come after&nbsp;reports highlighted practices of the edtech&nbsp;giant&nbsp;Byju&rsquo;s&nbsp;using tactics to make people who can&rsquo;t afford the products buy them, signing people up for loans.&nbsp;

Byju's&nbsp;is getting schooled for it's alleged predatory&nbsp;tactics in acquiring new customers for it's online teaching platform. Taking the stage in Lok Sabha on Tuesday, Member of Parliament (MP) from Tamil Nadu&nbsp;Karti Chidambaram&nbsp;asked the Union Education Minister to monitor and put in place strict regulation for ed tech platforms.&nbsp;
Also watch |&nbsp;<a title="Covid-19: Google says it will eventually fire unvaccinated employees" href="https://www.editorji.com/coronavirus/covid-19-google-says-it-will-eventually-fire-unvaccinated-employees-1639537483121">Covid-19: Google says it will eventually fire unvaccinated employees</a>&nbsp; The MP said "In fact, this company sponsors the Indian Cricket Team now. You know exactly as to who I am referring to. This company is worth 21 billion dollars. Our entire Indian educational budget is not worth that much. So, it is very essential to have some concerted effort to monitor these companies and prevent them from doing these predatory marketing practices where they are auto-debiting the accounts of unsuspecting people,&rdquo; The comments come after&nbsp;reports highlighted practices of the edtech&nbsp;giant&nbsp;Byju&rsquo;s&nbsp;using tactics to make people who can&rsquo;t afford the products buy them, signing people up for loans they never knew they were signing up for.&nbsp; The BBC&nbsp;in an article published on December 7 questioned these tactics by putting the spotlight on cases that had even taken India's most valued startup&nbsp;to court.&nbsp; The BBC spoke to many parents who said the services they were promised never materialised. In at least three different cases, India's consumer courts have ordered Byju's to pay damages to customers in disputes related to refunds and deficiency of services. Byju's told the BBC that they had reached a settlement in these legal cases, and their grievance redressal rate was 98%. Calls for regulation and monitoring of edtech&nbsp;is not new or specific to India. Mainland China cracked out on edtech&nbsp;and imposed a ban on listing/profiteering from these ventures in a sweeping message that education like healthcare&nbsp;was meant for public good.&nbsp;

With an aim to make maths learning more visual and interactive, edtech unicorn Byju's announced that it has acquired Austria-headquartered GeoGebra for an undisclosed sum.
About GeoGebra
Eight-year-old GeoGebra operates an interactive and collaborative mathematics learning tool and reaches over 100 million students across more than 195 countries and territories.
GeoGebra will continue to operate as an independent unit within the Byju’s group under the leadership of its Founder and Developer, Markus Hohenwarter.
According to reports, the value of the transaction is about $100 million. 
Unstoppable Byju's 
GeoGebra is the latest in a series of about 10 purchases Byju’s has made this year as it looks to fill the whitespaces in its offerings. The Bangalore-headquartered startup has this year acquired Tynker, Scholr, Aakash Institute, Hashlearn, Epic, Great Learning and Gradeup, among others, for over $2 billion in cash and equity deals.

Byju's rakes up 10th acquisition for the year, GeoGebra joins the Byju's bouquet

Adding a new buyout to it's Byju's adds the 10th buy for this year. 

Byju's buys another company

Austria-headquartered GeoGebra. The Austrian company has a dynamic, interactive and collaborative mathematics learning tool

How can the year end without Byju's&nbsp;making yet another acquisition. The edtech&nbsp;giant has acquired&nbsp;Austria-headquartered GeoGebra&nbsp;reportedly for $100 million.&nbsp;
About&nbsp;GeoGebra
Eight-year-old&nbsp;GeoGebra&nbsp;operates an interactive and collaborative mathematics learning tool and reaches over 100 million students across more than 195 countries and territories.
Unstoppable Byju's&nbsp;
The Bangalore-headquartered startup has this year&nbsp;acquired Tynker, Scholr,&nbsp;Aakash Institute, Hashlearn,&nbsp;Epic, Great Learning and Gradeup, among others, for over $2.5 billion in cash and equity deals.

Byju&rsquo;s, India's most valuable startup reported revenues of&nbsp;&nbsp;Rs 2,381 crore&nbsp;but also a loss that ballooned 30 times over in the pre-covid&nbsp;period of April 2019 to March 2020.&nbsp;Edtech&nbsp;Giant&nbsp;Byju&rsquo;s&nbsp;in their filing showed&nbsp;revenue from operations by 82.31% to Rs 2,381 crore in FY'20. Surprisingly, 70% of&nbsp;Byju&rsquo;s revenue came via sales of tablets and SD cards.&nbsp; Sales of these products amounted to Rs 1,675.7 crore, accounting for 70.4% of revenue during the pre-covid&nbsp;financial year as per Entracker.&nbsp;Losses for the company however went up from Rs 8 cr to Rs 262 cr in just one year. Large part of that can be owed to a mega advertising expenditure budget. Byju's became the official sponsor for the Indian Cricket team in September 2019 and spent Rs 162 crore in total on sponsorships during FY20.These numbers however are for the pre-covid&nbsp;era, Byju's bets on edtech and acquisitions in the current year may reveal a very different balance sheet next time around.&nbsp;it's financial statement for the pre-covid&nbsp;year of 2019-2020 and the numbers

Byju's losses jump 30 times, why is India's most valuable startup bleeding

Byju's losses jump 30 times 

Byju's&nbsp;reports financial statement for the previous financial year ending March 2020.&nbsp;

Byju&rsquo;s, India's most valuable startup reported revenues of&nbsp;&nbsp;Rs 2,381 crore&nbsp;but also a loss that ballooned 30 times over in the pre-covid&nbsp;period of April 2019 to March 2020.&nbsp; Edtech&nbsp;Giant&nbsp;Byju&rsquo;s&nbsp;in their filing showed&nbsp;revenue from operations by 82.31% to Rs 2,381 crore in FY'20. Surprisingly, 70% of&nbsp;Byju&rsquo;s revenue came via sales of tablets and SD cards.&nbsp; Sales of these products amounted to Rs 1,675.7 crore, accounting for 70.4% of revenue during the pre-covid&nbsp;financial year as per Entracker.&nbsp; Losses for the company however went up from Rs 8 cr to Rs 262 cr in just one year. Large part of that can be owed to a mega advertising expenditure budget. Byju's became the official sponsor for the Indian Cricket team in September 2019 and spent Rs 162 crore in total on sponsorships during FY20. These numbers however are for the pre-covid&nbsp;era, Byju's bets on edtech and acquisitions in the current year may reveal a very different balance sheet next time around.&nbsp;

'Master Blaster',&nbsp;Sachin Tendulkar&nbsp;further strengthened his ties with digital entertainment technology company&nbsp;JetSynthesys&nbsp;by pitching in $2 million&nbsp; as investment.&nbsp;JetSynthesys is one of the leading names in the gaming industry and is known for developing mobile games with high fidelity and network play.&nbsp;The company had previously joined hands with Tendulkar to launch two platforms including gaming apps Sachin Saga Cricket Champions, Sachin Saga VR and digital destination for all things cricket, 100MB.JetSynthesys&nbsp; already boats of investors such as Adar Poonawalla,&nbsp;Kris Gopalakrishnan&nbsp;and&nbsp;the promoters of&nbsp;Thermax, Triveni Group.&nbsp;

Sachin Tendulkar invests $2 million in tech startup along with Adar Poonawalla, Kris Gopalakrishnan

Sachin Tendulkar invests $2 million in tech startup along with Adar Poonawalla&nbsp;and&nbsp;Kris Gopalakrishnan

Pitching in the right investment by Tendulkar

Master Blaster increases his investment into&nbsp;digital entertainment and technology firm JetSynthesys

'Master Blaster',&nbsp;Sachin Tendulkar&nbsp;further strengthened his ties with digital entertainment technology company&nbsp;JetSynthesys&nbsp;by pitching in $2 million&nbsp; as investment.&nbsp; JetSynthesys is one of the leading names in the gaming industry and is known for developing mobile games with high fidelity and network play.&nbsp;The company had previously joined hands with Tendulkar to launch two platforms including gaming apps Sachin Saga Cricket Champions, Sachin Saga VR and digital destination for all things cricket, 100MB. JetSynthesys&nbsp; already boats of investors such as Adar Poonawalla,&nbsp;Kris Gopalakrishnan&nbsp;and&nbsp;the promoters of&nbsp;Thermax, Triveni Group.&nbsp;

Days after buying&nbsp;US-based reading platform-&nbsp;Epic,&nbsp;Edtech giant Byju&rsquo;s has now completed the acquisition of two edtech start-ups Toppr and Great Learning.
With this, Byju&rsquo;s has acquired six startups in 2021, across India and the US.
According to the reports,&nbsp;Byju's allotted preference shares worth over Rs 730 crore to existing shareholders of Great Learning, while it allotted shares worth over Rs 425 crore to shareholders of Toppr.
Seven-year-old, Great Learning offers various programmes in data science, artificial intelligence, machine learning, cloud computing, among others.&nbsp;Toppr offers online courses for kindergarten to 12 (K-12) students.
Byju's has been on an acquisition spree for some time now. It has acquired Aakash Educational Services, WhiteHat Jr and Osmo. Last week, the company announced acquisition of California-based reading platform Epic for $500 million to expand its footprints across the US market.

Unstoppable Byju’s; India's most valuable startup acquires Toppr and Great Learning 

India's most valuable startup&nbsp;Byju's&nbsp;is unstoppable! Acquires&nbsp;Toppr and Great Learning, why is the edtech giant lapping up companies?

New students in classroom: Byju’s acquires Toppr and Great Learning

<ul>
<li>Bangalore-based edtech, Byju's&nbsp;buys&nbsp;Toppr,&nbsp;Great Learning</li>
<li>Byju&rsquo;s&nbsp;acquired six startups in 2021, across India, US</li>
<li>Edtech to spend ₹730 cr to buy&nbsp;Great Learning,&nbsp;₹425 cr&nbsp;for Toppr</li>
<li>Toppr offers online courses for kindergarten to 12 students</li>
</ul>

With this, Byju&rsquo;s has acquired six startups in 2021, across India and the US.

Days after buying&nbsp;US-based reading platform-&nbsp;Epic,&nbsp;Edtech giant Byju&rsquo;s has now completed the acquisition of two edtech start-ups Toppr and Great Learning.
With this, Byju&rsquo;s has acquired six startups in 2021, across India and the US.
According to the reports,&nbsp;Byju's allotted preference shares worth over Rs 730 crore to existing shareholders of Great Learning, while it allotted shares worth over Rs 425 crore to shareholders of Toppr.
Seven-year-old, Great Learning offers various programmes in data science, artificial intelligence, machine learning, cloud computing, among others.&nbsp;Toppr offers online courses for kindergarten to 12 (K-12) students.
Byju's has been on an acquisition spree for some time now. It has acquired Aakash Educational Services, WhiteHat Jr and Osmo. Last week, the company announced acquisition of California-based reading platform Epic for $500 million to expand its footprints across the US market. Read/Watch Also: <a href="https://www.edtr.ai/9yy0">China plays spoilsport for edtech</a>

The $100 billion education tech or edtech sector has had a torrid weekend with China&nbsp;banning companies that teach the school curriculum from making profits, raising capital or going public.So basically none of the tutoring companies will be allowed to list thus and would have convert ti being a not-for-profit entity. This wipes out billions worth of investments by Private Equity (PE) in the sector.&nbsp;Temasek, Sequoia China, Tiger, SoftBank Vision Fund,&nbsp;Warburg Pincus&nbsp;are just few of the big PE players invested in China's top 4 edtech&nbsp;firms. According to Bloomberg&nbsp;online education platforms attracted about 103 billion yuan of capital in 2020 alone in China.&nbsp;Here is a complete list of the new Regulations for China&rsquo;s Education Sector:

Companies and institutions that teach the school curriculum must go non-profit
Such institutions cannot pursue IPOs, or take foreign capital
Listed companies will be prohibited from issuing stock or raising money in capital markets to invest in school-subject tutoring institutions, or acquiring their assets via stock or cash
Foreign firms are banned from acquiring or holding shares in school curriculum tutoring institutions
All vacation and holiday cirriculum tutoring is off-limits
Online tutoring and school-curriculum teaching for kids below six years of age is forbidden
Agencies cannot teach foreign curriculums or hire foreigners outside of China to teach


China's big profit ban for edtech, Billions wiped out, stocks collapse 40%

China bans profit making in edtech, sweeping changes leaves $100,000,000 industry in a limbo with PE investment wiped out. Click here for the details.&nbsp; (Please tag ronnie&nbsp;screwvala, tag byjus, tag education minister)

China bans profit making in edtech

China bans tutoring firms from making profit, raising capital in sweeping changes over the weekend.&nbsp;

The $100 billion education tech or edtech sector has had a torrid weekend with China&nbsp;banning companies that teach the school curriculum from making profits, raising capital or going public. So basically none of the tutoring companies will be allowed to list and would have convert to being a not-for-profit entity. This wipes out billions worth of investments by Private Equity (PE) in the sector.&nbsp; Temasek, Sequoia China, Tiger, SoftBank Vision Fund,&nbsp;Warburg Pincus&nbsp;are just few of the big PE players invested in China's top 4 edtech&nbsp;firms. According to Bloomberg&nbsp;online education platforms attracted about 103 billion yuan of capital in 2020 alone in China.&nbsp; Here is a complete list of the new Regulations for China&rsquo;s Education Sector:
<ul>
<li>Companies and institutions that teach the school curriculum must go non-profit</li>
<li>Such institutions cannot pursue IPOs, or take foreign capital</li>
<li>Listed companies will be prohibited from issuing stock or raising money in capital markets to invest in school-subject tutoring institutions, or acquiring their assets via stock or cash</li>
<li>Foreign firms are banned from acquiring or holding shares in school curriculum tutoring institutions</li>
<li>All vacation and holiday curriculum tutoring is off-limits</li>
<li>Online tutoring and school-curriculum teaching for kids below six years of age is forbidden</li>
<li>Agencies cannot teach foreign curriculums or hire foreigners outside of China to teach </li>
</ul>

India's most valued startup&nbsp;Byju's is on a shopping spree and has added US based digital reading platform Epic to it's portfolio for a half a billion dollars.&nbsp; This is the second and the largest U.S. based buy by the edtech giant Byju's.&nbsp;Seven-year-old Epic is like the Netflix for books with a collection of more than 40,000 popular books from hundreds of notable publishers. The platform&nbsp;has a user base of two million teachers and 50 million kids registered.Watch Also: Ronnie Screwvala Exclusive on why Upgrad won't go the K-12 route&nbsp;Byju's&nbsp;shopping cart over the last two years has been overflowing with acquisitions like Aakash Institute,&nbsp;WhitehatJr, LabinApp, Scholr, Hashlearn. The startup&nbsp;stir seems to suggest Toppr, Gradeup&nbsp;and Great Learning could be next on the buy list.&nbsp;&nbsp;Large acquisitions have become the bedrock of Byju&rsquo;s, which was valued at $16.5 billion last month, raising $350 million from UBS, private equity giant Blackstone and others. The deal made Byju&rsquo;s India&rsquo;s most valuable internet firm ahead of fintech company Paytm.

Byju's buys U.S. based digital reading startup Epic for $500 million

Byju's&nbsp;spends another half a billion dollars as it acquires US based reading platform Epic. What's next on the buyout syllabus for India's most valuable startup.&nbsp;

Byju's Big Buy

The latest acquisition by&nbsp;Byju'scomes on the heels of the edtech major buying Aakash&nbsp;Institute for nearly $1 billion earlier this year.

India's most valued startup&nbsp;Byju's is on a shopping spree and has added US based digital reading platform Epic to its portfolio for a half a billion dollars.&nbsp; This is the second and the largest U.S. based buy by the edtech giant Byju's.&nbsp; Seven-year-old Epic is like the Netflix for books with a collection of more than 40,000 popular books from hundreds of notable publishers. The platform&nbsp;has a user base of two million teachers and 50 million kids registered. Watch Also: <a href="https://www.edtr.ai/9qtq">Ronnie Screwvala Exclusive on why Upgrad won't go the K-12 route&nbsp;</a> Byju's&nbsp;shopping cart over the last two years has been overflowing with acquisitions like Aakash Institute,&nbsp;WhitehatJr, LabinApp, Scholr, Hashlearn. The startup&nbsp;stir seems to suggest Toppr, Gradeup&nbsp;and Great Learning could be next on the buy list.&nbsp;&nbsp; Large acquisitions have become the bedrock of Byju&rsquo;s, which was valued at $16.5 billion last month, raising $350 million from UBS, private equity giant Blackstone and others. The deal made Byju&rsquo;s India&rsquo;s most valuable internet firm ahead of fintech company Paytm.

On Biz Buzz, edTech&nbsp;pioneer Ronnie Screwvala on Edtech and the acquisition plans, and the scope of edtech listings

On Biz Buzz | Ronnie Screwvala Exclusive on upGrad and edtech listing plans

<div>On Biz Buzz, edTech&nbsp;pioneer Ronnie Screwvala on Edtech and the acquisition plans, and the scope of edtech listings</div>

On Biz Buzz, edTech&nbsp;pioneer Ronnie Screwvala on Edtech and the acquisition plans, and the scope of edtech listings

Ronnie Screwvala, co-founder upGrad&nbsp;and author of "Skill It, Kill It Up for Game" talks about what it takes to get job in the new business world and why your 'hard education' is not enough.&nbsp;Screwvala&nbsp;also spills the beans on the plans for upGrad&nbsp;a and why he is not taking on Byju's head on in the K-12 game.&nbsp;

On Biz Buzz| Ronnie Screwvala on upGrad, Upskilling and what it really takes to get a job

Biz Buzz| Want to get a great job? Ronnie Screwvala&nbsp;founder of upGrad&nbsp;tells you what its takes and how to get it.&nbsp;

On Biz Buzz| Ronnie Screwvala Exclusive

Ronnie Screwvala, co-founder upGrad&nbsp;and author of "Skill It, Kill It Up for Game" talks about what it takes to get job in the new business world and why your 'hard education' is not enough.&nbsp;Screwvala&nbsp;also spills the beans on the plans for upGrad&nbsp;a and why he is not taking on Byju's head on in the K-12 game.&nbsp;

Indian edtech industry's market is pegged to be worth $30 billion in the next 10 years.&nbsp;

Edtech giant&nbsp;Byju's has raised $50 million this time led by&nbsp;IIFL's private equity fund and Maitri Edtech&nbsp;as per reports.&nbsp;This is the second round of fund raising for the e-learning platform, it had reportedly raised&nbsp;$340 million from investors such as UBS Group, Zoom founder Eric Yuan, Blackstone earlier in June. The fund raising by the group had pivoted&nbsp;Byju's&nbsp;to the top of the value chain for Indian startups, outpacing IPO-bound&nbsp;Paytm.&nbsp;
Byju&rsquo;s valuation remains $16.5 billion after the latest round of funding.
&nbsp;

Fund raising alert! Byju's raises another $50 million 

Edtech giant&nbsp;Byju's has raised $50 million this time led by&nbsp;IIFL's private equity fund and Maitri Edtech&nbsp;as per reports.&nbsp; This is the second round of fund raising for the e-learning platform, it had reportedly raised&nbsp;$340 million from investors such as UBS Group, Zoom founder Eric Yuan, Blackstone earlier in June. The fund raising by the group had pivoted&nbsp;Byju's&nbsp;to the top of the value chain for Indian startups, outpacing IPO-bound&nbsp;Paytm.&nbsp;
Byju&rsquo;s valuation remains $16.5 billion after the latest round of funding.
&nbsp;

Edtech giant&nbsp;Byju's has raised $50 million this time led by&nbsp;IIFL's private equity fund and Maitri Edtech&nbsp;as per reports.&nbsp; This is the second round of fund raising for the e-learning platform, it had reportedly raised&nbsp;$340 million from investors such as UBS Group, Zoom founder Eric Yuan, Blackstone earlier in June. The fund raising by the group had pivoted&nbsp;Byju's&nbsp;to the top of the value chain for Indian startups, outpacing IPO-bound&nbsp;Paytm.&nbsp;
Byju&rsquo;s valuation remains $16.5 billion after the latest round of funding.
&nbsp;

edtech

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