This Country’s Edtech Companies Are Being Ravaged by Layoffs. Reports say that the Edtech platform Adda247, backed by Google, has laid off around 250-300 staffers. StudyIQ, an Edtech Company that Focuses on UPSC, Reportedly Lays Off About 100 to 150 Employees –Sources. In December of 2021, approximately $20 million was paid to StudyIQ by adda247.
It is also reported that over one hundred of them were requested to leave in other areas such as sales and content. The first of several is this layoff at the company. According to the report, the affected workers were forced to leave without prior notice.

Received Google funding in 2022

Last October, WestBridge Capital led and raised $35mn for Adda247. The round brought in one new investor—Google. Existing investors like Info Edge and Asha Impact were included in the new round of funding at ScoopWhoop.
The brainchild of Anil Nagar and Saurabh Bansal, founded in 2016, Adda247 addresses the learning requirements of several million students from the second and third-tier cities. The company describes itself on social networking sites, specifically Twitter as “India’s largest-scale vernacular learning platform –Backed By Google, The Westbridge Group, Info-edge India Ltd., And Asha-impact# Building The Nation Through Education”.
Last week, edtech poster boy Byju’s revealed plans to fire between 4,000 and 5,000 employees in a ‘business restructuring exercise’. The startup has axed over 10,000 jobs in the past two years.