Indian edtech giant Unacademy has announced layoffs of around 250 employees, the latest in a string of layoffs since schools reopened across the country after the pandemic.
The Bengaluru-based startup, valued at around $3.4 billion in its last funding in 2021, is cutting 100 jobs in core roles (marketing, business, product) and 150 in sales, according to a person familiar with the situation. Unacademy has cut around 2,000 jobs since the second half of 2022.
A spokesperson for Unacademy confirmed the layoffs but did not say how many individuals were affected.
The edtech startup, which counts General Atlantic, SoftBank and Peak XV among its backers, said the restructuring was “necessary” to stay on track with the company’s goal of reaching profitability.
The layoffs come as Unacademy is in discussions with K12 Techno, the parent company of Orchid International school chain, about a potential merger, according to two people familiar with the matter.
More to follow.