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The past few months have seen edtech companies shift focus towards profitability, rationalization of spending, slowing growth projections, and a change in strategies. SoftBank-backed Eruditus is no ......
The most-valued edtech startups, including unicorns and soonicorns, ended up bloating their expenses as much as 91% YoY to $870 Mn in FY22
According to Inc42's Edtech Report 2022, hit by funding winter, the investment in the sector returns to pre-pandemic levels.
This is the time that demands edtech startups to be wary of our new initiatives, capital expenditure, and reckless cash burns: Eruditus CEO
Eruditus, which turned a unicorn in August 2021, reported operating revenue of $245.2 Mn in FY22 as against $131.2 Mn in FY21