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<ul><li><keyword id="9771244" type="General" weightage="20" keywordseo="teachmint" source="Orion">Teachmint</keyword> has now acquired video engagement platform Airlearn for an undisclosed amount.</li><li>It had raised capital from Rocketship.vc and Vulcan Capital in October, at a valuation of $500 million.</li><li>It has also launched its core teaching solutions across 30 countries in Southeast Asia and the Middle East.</li></ul>In a short span of two years, the live teaching platform Teachmint is already exploring its international ambitions. The company — which was valued at <a href="https://www.businessinsider.in/business/startups/news/byjus-backer-lightspeed-india-invests-in-a-live-tutoring-platform-teachmint/articleshow/78924152.cms">half a billion dollars</a> in October — has now acquired video engagement platform Airlearn for an undisclosed amount, a top executive of the company told Business Insider. With this acquisition, the entire team at Airlearn will become a part of Teachmint’s Teachstack. Airlearn’s cofounders Awadhesh Kumar and Somveer Payal are taking up critical roles as the direct of product and director of engineering, respectively. “Video talent is really rare, especially in India, where not a lot of people carry that expertise. The Airlearn team had that depth of operating in the same space,” Mihir Gupta, founder and chief executive of Teachmint told Business Insider. This is the third acquisition made by Teachmint this month. Prior to this, it acquired course selling platform Teachmore and acqui-hired the Indian arm of Singapore-based Teachee. Both these companies enable teachers and educators to sell their educational products such as online classes. Mihir Gupta, the founder and chief executive of Teachmint, told Business Insider that acquisition of Teachmore and Airlearn has been to acquire the expertise of the team and the experience they bring in. The financial details of these transactions have not been disclosed. This is the first step to the company’s international expansion even though the acquired companies are based in India. Teachmint is currently working on building the right product market fit before we get deeper into our international markets, Gupta explained. <div type="image" title="EXCLUSIVE | Teachmint has completed its third acquisition this month and it’s all part of its international play" msid="88560781" hostid="261"></div> Teachmint enables teachers to conduct online classes through a two-way interactive learning solution that allows video sharing and more. It also offers a tutoring management software-as-a-service (SaaS) to help teachers mark attendance, conduct tests, create virtual classrooms and more. It has also launched its core teaching solutions across 30 countries in Southeast Asia and Middle East — comprising Indonesia, Thailand, Vietnam, UAE and Saudi Arabia. The company is currently focusing on organic growth in the international markets for now, but will plan out the next steps based on the initial response of the customers. The platform is used by individual teachers, schools, universities and other edtech platforms. However, the product is free for individual teachers and solopreneurs. Its solutions for enterprises like school, colleges and other mass online classes need to be paid for and offers several features — including attendance features, online quizzes, fee collection, records and stores lectures, among others. Teachmint has been able to cater to 10 million users, 4000 educational institutes across 5000 Indian cities and towns. It aims to reach 100 millions users — teachers, students and enterprises — as it expands further. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/reliance-industries-sun-pharma-dr-reddys-and-other-hot-stocks-to-watch-out-for-on-december-29/slidelist/88556621.cms" data-type="tilCustomLink">Reliance Industries, Sun Pharma, Dr Reddy’s and other hot stocks to watch out for on December 29</a> <a href="https://www.businessinsider.in/business/startups/news/nykaa-zomato-paytm-oyo-and-policybazaar-made-their-employees-millionaires/slidelist/88552831.cms" data-type="tilCustomLink">19 people who became millionaires by working for Indian tech startups</a> <a href="https://www.businessinsider.in/finance/banks/news/there-is-a-small-pool-of-hope-amid-all-the-fear-around-rbl-bank/articleshow/88538626.cms" data-type="tilCustomLink">There is a small pool of hope amid all the fear around RBL Bank</a>

EXCLUSIVE | Teachmint has completed its third acquisition this month and it’s all part of its international play

<ul><li>The <keyword id="4534291" type="PERSON" weightage="20" keywordseo="edtech-startup">edtech startup</keyword> will use this funding to further develop their live teaching technology.</li><li>It had raised $16.5 million in its Series A round that closed in May 2021.</li><li><keyword id="9771244" type="UNKNOWN" weightage="20" keywordseo="teachmint">Teachmint</keyword> claims to have a million teachers on its platform from over 5000 cities in India.</li></ul><keyword id="11600718" type="UNKNOWN" weightage="20" keywordseo="live-teaching-platform">Live teaching platform</keyword> Teachmint has raised $20 million in its pre-Series B round led by San Francisco-based <keyword id="4627678" type="PERSON" weightage="20" keywordseo="Learn-Capital">Learn Capital</keyword>, with participation from CM Ventures. The edtech startup will use this funding to further develop their live teaching technology and expand into new geographies. Besides this, the company will also look into enhancement of its product and hiring talent. Teachmint had closed its Series A round in May 2021, with a funding of <a href="https://www.businessinsider.in/business/startups/news/byjus-backer-lightspeed-india-invests-in-a-live-tutoring-platform-teachmint/articleshow/78924152.cms">$16.5 million</a>. The round was led by Learn Capital, with participation from CM Ventures, Lightspeed and Better Capital. Notably, the company’s claims that its valuation has jumped three times in the last two months. The edtech startup has not shared any more details about its valuation. Founded by <keyword id="55119" type="ORGANIZATION" weightage="20" keywordseo="Indian-Institute-of-Technology">Indian Institute of Technology</keyword> (IIT)-Delhi and Bombay alumni Mihir Gupta, Payoj Jain, Divyansh Bordia and Anshuman Kumar in 2020, Teachmint has raised about $40 million to date. The founding team has previously worked with several big brands in the digital space, including OYO, McKinsey, Swiggy and Roposo. Teachmint enables teachers to conduct online classes through a two-way interactive learning solution that allows video sharing and more. The company also offers a tutoring management software-as-a-service (<keyword id="6395918" type="UNKNOWN" weightage="20" keywordseo="SAAS">SaaS</keyword>) to help teachers mark attendance, conduct tests, create virtual classrooms and more. The edtech startup claims to have more than one million teachers on board across over 5000 Indian cities and towns. The solution is available in 10 Indian languages apart from English. The company's other products are focused more on individual teachers. However, it has recently launched an institutional product for schools and colleges. Teachmint for Institutes offers educational institutions a platform to monitor all online classes and institute activities including fee collections, performance assessments and storing lectures. Teachmint’s chief executive Gupta said, “With our platform usage growing 25x [times] over the last quarter, we are becoming the default teaching application in India and the largest live teaching platform globally, outside China. Over the past 1 year, we have brought together some of the top minds in product and engineering to address the big technology-infrastructure gap in teaching and learning through our proprietary platform.” The company competes with another edtech platform ClassPlus, which recently closed a $<a href="https://www.businessinsider.in/business/startups/news/edtech-startup-classplus-raises-65-million-led-by-tiger-global-to-bring-more-tutors-online/articleshow/83810274.cms">65 million</a> round led by Tiger Global. Classplus offers a mobile-first software that allows coaching institutes, tuition centres and private tutors to take their traditionally offline classes online. It claims to serve a user base of 20 million students and 100,000 tutors across 1,500 cities in India. SEE ALSO <a href="https://www.businessinsider.in/business/corporates/news/tcs-hires-over-20000-in-june-quarter-its-highest-ever-quarterly-addition/articleshow/84240423.cms">TCS has loaded up half a million peeps as it expects many to move on</a> <a href="https://www.businessinsider.in/business/startups/news/social-commerce-startup-dealshare-raises-144-million-from-tiger-global/articleshow/84227890.cms">Social commerce startup DealShare raises $144 million from Tiger Global</a> <a href="https://www.businessinsider.in/business/startups/news/zomato-ipo-to-open-on-july-14-with-shares-priced-at-72-76-apiece/articleshow/84226269.cms">Zomato IPO to open on July 14 ⁠with shares priced at ₹72-76 apiece</a>

Live teaching platform Teachmint raises fresh funding of $20 million after raising over $16 million two months ago

<ul><li><keyword id="9771244" type="UNKNOWN" weightage="20" keywordseo="teachmint">Teachmint</keyword>, a live tutoring platform, has raised $3.5 million – its second investment in the last two months.</li><li>The startup was launched in May 2020, just as the coronavirus lockdown brought in a wave of <keyword id="23248" type="PERSON" weightage="20" keywordseo="Online-learning">online learning</keyword>.</li><li>Teachmint helps teachers to digitize their classes as a mobile-first, video-first platform.</li></ul>Teachmint, a live tutoring platform, has raised $3.5 million from <keyword id="2590446" type="PERSON" weightage="20" keywordseo="Lightspeed-India">Lightspeed India</keyword> and its existing investors Better Capital and Titan Capital (the VC firm founded by Snapdeal founders Kunal Bahl and Rohit Bansal). Interestingly, Lightspeed India has invested in this platform even as the VC firm backs India’s biggest edtech startup BYJU’S. This is also the second funding that this five-month old startup has received in less than two months. Teachmint helps teachers to digitize their classes as a mobile-first, video-first platform. With a focus on regional customization, the startup is already present in 10 languages. The startup was launched in May 2020, just as the coronavirus lockdown brought in a wave of online learning. The startup was founded by IIT Delhi and IIT Mumbai graduates Mihir Gupta, Payoj Jain, Divyansh Bordia and Anshuman Kumar, who have earlier worked at <keyword id="6362513" type="UNKNOWN" weightage="20" keywordseo="startups">startups</keyword> like OYO, Swiggy etc. “Teachers are at the center of a great education experience, and this is what will truly unleash the power of EdTech.Our mission is to enable millions of outstanding tutors in India to take their classes online by leveraging Teachmint as their tech backbone,” said Mihir Gupta, Co-founder &amp; CEO at Teachmint. Teachmint’s presence <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">120,000 tutors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1,000 cities </td></tr></tbody></table> “India’s tutoring and coaching market is estimated to be over $25 billion, is fragmented into millions of tutors and coaching centers, and Teachmint is ideally placed to not just enable this market but potentially expand it further,” said Harsha Kumar, Partner at Lightspeed India. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/byju-raveendran-on-byjus-us-expansion-and-how-white-hat-jr-wont-just-be-about-coding-anymore/articleshow/78904109.cms">'India can provide teachers to the world, just like software engineers,' says Byju Raveendran as he plans to take his $11 billion edtech startup to US shores</a>

BYJU'S backer Lightspeed India invests in a live tutoring platform Teachmint

<ul><li><keyword id="6251606" type="General" weightage="20" keywordseo="classplus" source="Orion">Classplus</keyword> is among the highest valued Indian <keyword id="2989202" type="General" weightage="20" keywordseo="edtech-startups" source="Orion">edtech startups</keyword> outside of the unicorn club.</li><li>The edtech startup on Tuesday announced its $70 million funding round co-led by Alpha Wave Global and Tiger Global.</li><li>It is a mobile-first SaaS platform that allows educators and content creators to build their online presence.</li><li>The company claims to have more than 100,000 educators and content creators from over 3,000 towns and cities.</li></ul>Classplus — a company that helps educators and content creators launch online classes — is now valued at $600 million. The edtech startup on Tuesday announced its $70 million funding round co-led by Alpha Wave Global and Tiger Global. With this, Classplus is among the highest valued Indian edtech startups outside of the unicorn club. A unicorn is a private company valued at or over a billion dollars. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Companies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Valuation </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Backers </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Scaler Academy </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$710 million </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tiger Global, Sequoia India </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Classplus </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$600 million </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Alpha Wave Global, Tiger Global </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BrightChamps </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$500 million </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Premji Invest, Flipkart’s Binny Bansal </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Teachmint </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$500 million </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Lightspeed, Better Capital </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source: Company Announcements Abu Dhabi-based Chimera Ventures also joined Classplus’ Series D round, along with existing investor RTP Global. The company plans to use this capital to enhance its product and further expand its global presence. “We’ll be deploying the freshly infused funds to take our product up by notches and expand our presence globally. Going forward, we’ll also be investing in new acquisitions and partnerships that will enable us to continue delivering best-in-class experience to the educators and helping them create an impact in the education system by building bigger and stronger businesses,” Mukul Rustagi, chief executive officer (CEO) and cofounder of Classplus, said. Classplus was founded in 2018 by Bhaswat Agarwal and Mukul Rustagi. It is a mobile-first software-as--a-service (SaaS) platform that allows educators and content creators to build their online presence, digitise their offline tuition centres and sell their courses online. It focuses on both academic and non-academic courses like fitness and lifestyle, personal finance, language training and more. The company claims to have more than 100,000 educators and content creators from over 3,000 towns and cities. Classplus <a href="https://www.businessinsider.in/business/startups/news/teachmint-has-acquired-3-startups-airlearn-teachmore-and-teachee-this-month/articleshow/88560790.cms">competes with Teachmint</a> and Zoho’s<a href="https://www.businessinsider.in/business/news/zoho-is-selling-its-video-calling-app-in-as-many-ways-as-possible/articleshow/88137006.cms"> latest offering TainerCentral</a>. Devendra Agrawal, founder and CEO of Dexter Capital Advisors, in a <a href="https://www.businessinsider.in/business/startups/news/india-now-has-four-edtech-unicorns-byju-unacademy-eruditis-upgrad/articleshow/85300757.cms">previous conversation </a>with Business Insider highlighted that players like Teachmint and Classplus have the potential to be India’s next unicorns. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/tata-power-icici-bank-aurobindo-pharma-among-stocks-to-watch-out-for-on-march-29/slidelist/90507868.cms">Tata Power, ICICI Bank, Aurobindo Pharma among stocks to watch out for on March 29</a> <a href="https://www.businessinsider.in/personal-finance/news/link-pan-with-aadhaar-before-march-31-to-avoid-any-penalty-or-other-consequences/articleshow/90510078.cms" data-type="tilCustomLink">Three days left to link PAN with Aadhaar to avoid any penalty or other consequences</a> <a href="https://www.businessinsider.in/tech/apps/news/india-might-be-building-a-super-app-for-its-farmers-combining-weather-market-updates-advisories-and-more-in-one-app/articleshow/90509756.cms">India might be building a super app for its farmers, combining weather, market updates, advisories and more in one app</a>

Classplus is now among the highest valued edtech startups outside of the unicorn club

<ul><li><keyword id="15583299" type="General" weightage="100" keywordseo="classlogic" source="Orion">Classlogic</keyword> has 100+ education institutes as partners in <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword>.</li><li>The latest round of funding will be used to scale technology and increase the presence of the company.</li><li>It has the combined functionality of classroom management solutions, learning management solutions, <keyword id="162218" type="General" weightage="50" keywordseo="erp" source="Orion">ERP</keyword>, fee management, marketing tools. </li></ul> Pune-based <keyword id="1464841" type="General" weightage="50" keywordseo="edtech" source="Orion">Edtech</keyword> startup Classlogic, the most affordable online teaching cum classroom management app for Educators and Educational Institutes, has raised seed funding of $100k from Mumbai <keyword id="15583301" type="General" weightage="50" keywordseo="based-angel-investors" source="Orion">Based Angel Investors</keyword>. The latest round of funding will be used to scale technology and increase the presence of the company across India. Classlogic is an integrated platform for educators to teach online, as well as manage physical and hybrid classrooms. It has the combined functionality of classroom management solutions, learning management solutions, ERP, fee management, marketing tools, etc. " In the Ed-tech SaaS segment, the startup competes with Teachmint, Classplus, Winuall, etc. Ed-tech players. According to a report, the Indian SaaS industry, which stood at USD 3.5 Bn in 2020, is projected to grow into a USD 15 Bn market by 2026. Classlogic is an integrated app that can help users get rid of multiple ed-tech apps or solutions and switch to one integrated app for an institute that provides all essential features", says <keyword id="241904" type="General" weightage="50" keywordseo="anoop-mishra" source="Orion">Anoop Mishra</keyword>, co-founder of Classlogic. He further adds, "Teachers' job is the toughest job till the time they do everything apart from teaching, it could be much easier and inspiring for teachers if they can hand over their non-teaching task to someone else". <keyword id="15583300" type="General" weightage="50" keywordseo="vineith-kaul" source="Orion">Vineith Kaul</keyword>, a tech guy and co-founder of Classlogic added, "Nowadays, building technology is not a big deal, but building it at low cost and offering it to users at the most optimal cost is the challenge that we have cracked." Anoop Mishra and Vineith Kaul founded Classlogic in 2021, with their extensive experience in education. Anoop has brought his teaching, academic, and institute management experience whereas Vineet put his computer expertise to lead the vision of democratizing technology for educators. Classlogic is a powerful, mobile first and end-to-end solution for institute management and LMS but easy to use so anyone even without technical expertise can manage an entire institute and classroom using just the Classlogic mobile App. It has features such as automatic attendance &amp; leaves, timetables, homework, assessment, fees management, etc. Classlogic has 100+ education institutes as partners in India and the latest round of funding will enable the onboarding of 1000+ institutes in multiple cities in India. India has over 7 lakh coaching institutes, showing tremendous opportunities for ed-tech solutions. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/matter-ev-motorcycle-vs-revolt-rv400-eclectic-bike-price-features-range-and-more-compared-here/slidelist/95677246.cms">India’s first liquid-cooled e-bike Matter EV vs Revolt RV400: price, range, specs &amp; more</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/kaynes-technology-debuts-at-32-premium-on-exchanges-tops-grey-market-expectations/articleshow/95675099.cms">Kaynes Technology debuts at 32% premium on exchanges, tops grey market expectations</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/tiktok-plans-to-hire-3000-engineers/articleshow/95674604.cms">TikTok plans to hire 3,000 engineers</a>

Edtech startup Classlogic raises USD 100K in seed funding round

<ul> <li>India has seen three startups turn unicorn and one into a decacorn between January 2020 and August 2021.</li><li>Dexter Capital Advisors's CEO believes that Teachmint, Classplus, Quizziz could make an entry to the unicorn club.</li><li>Indian <keyword id="1464841" type="PERSON" weightage="20" keywordseo="Edtech">edtech</keyword> startups have raised about $4 billion in the same time frame.</li></ul>Education technology or edtech was one of the least funded sectors in India until 2019, but the rise of remote learning during the COVID-ridden 2020 has given a new set of wings to this otherwise ignored segment. From January 2020 to halfway through 2021, India has seen three startups turn unicorn and one into a decacorn. A unicorn — in a startup parlance — is a company valued at above $1 billion and a decacorn is a company valued above $10 billion. A major reason for this series of <keyword id="11853360" type="UNKNOWN" weightage="20" keywordseo="edtech-unicorns">edtech unicorns</keyword> in India has been the greater interest of the investors in the segment. Indian edtech startups have raised about $4 billion since 2020, of which $2.2 billion was raised in 2020 and<a href="https://yourstory.com/2021/08/byjus-unacademy-edtech-sector-funding-2021/amp"> $1.9 billion</a> was raised between January-August 3, 2021. <div type="image" title="From Byju’s to Eruditus — India now has four edtech unicorns, thanks to a $4 billion funding inflow since 2020" msid="85300875" hostid="261"></div> India’s edtech unicorn revolution to continue <keyword id="2900267" type="PERSON" weightage="20" keywordseo="Byju">Byju</keyword>’s was the first Indian edtech company to turn into a unicorn in 2018. The company is now valued at a whopping $16.5 billion, positioning it as the highest valued Indian startup and the highest valued <keyword id="4534291" type="PERSON" weightage="20" keywordseo="edtech-startup">edtech startup</keyword> across the globe. It took about two years and a pandemic to make <keyword id="6630114" type="UNKNOWN" weightage="20" keywordseo="unacademy">Unacademy</keyword> the second Indian edtech unicorn in September 2020. In 2021, India has found two unicorns in Ronnie Screwvala-led <keyword id="2008319" type="PERSON" weightage="20" keywordseo="Upgrad">upGrad</keyword> and Ashwin Damera-led Eruditus. Meanwhile, kids' live learning platform Vedantu is <a href="https://www.hindustantimes.com/business/vedantu-planning-a-fundraise-not-up-for-sale-founder-and-ceo-vamsi-krishna-101628298041357.html">reportedly</a> all set for its unicorn round and is in talks with investors across the board. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Unicorn </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Valuation </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Year </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Byju’s </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$16.5 billion </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2018 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Unacademy </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$3.4 billion </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2020 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Eruditus </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$3.2 billion </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2021 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">UpGrad </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$1.2 billion </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2021 </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> Devendra Agrawal, founder and CEO of Dexter Capital Advisors told Business Insider as the edtech sector matures, more sectors can be seen progressing in the unicorn directions. “Though, it may take some time as scale wise a number of players are still not that big. The players, which have a good growth momentum definitely have a shot at this coveted slot and in that players like Teachmint, Classplus, Quizziz should lead the pack,” he added. Edtech startups speculated to sashay their way into India’s unicorn club <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Startup </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Funding to date </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Key investors </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Teachmint </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$40 million </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Learn Capital, Better Capital, Lightspeed India Partners </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Classplus </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$60 million </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Falcon Edge Capital, Tiger Global Management, RTP Global, GSV Ventures </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Quizziz </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$47 million </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tiger Global, Nexus Venture Partners, GSV Ventures, Eight Roads Ventures India </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> Vaibhav Tamrakar, senior vice president at consultancy firm PGA Labs, in an email interaction with Business Insider shared that India’s edtech domain will gain more investor confidence especially after China’s latest regulation that has ordered all school curriculum and live tutoring edtech startups to go non-profit. “India is well-positioned to be the ‘tutor of the world’ with a strong presence of key ingredients including a large market of over 350 million learners, English-speaking population and tutors, and access to capital including both domestic and foreign investors. Edtech players in India had already expanded footprints in the global markets pre-COVID-19,” he added. Sydney-based maths learning platform Matific — which has operations across 60 countries — decided to enter India in 2019. Its chief executive Craig Shotland, talking about why Matific decided to expand to India, told Business Insider, “We see India as a key strategic market driven by factors like robust market potential, strong demand for edtech, and government policies like NEP. But most importantly the passion for education and learning, willingness to adopt technology, and strong affinity to gamified educational content makes it a great place to be right now.” What led to the rise of Indian edtech Tamrakar of PGA Labs told Business Insider, “While these trends [National Education Policy, accessibility to education and teachers, demand in upskilling and remote learning] were already transforming the market pre-COVID-19, the lockdowns did to edtech what demonetisation did to the fintech sector in India [in 2016] – accelerate these decade-long shifts within a year.” Dexter Capital Advisors’ Agrawal noted that the edtech sector was forgotten till 2015 and the issue was whether the companies operating in this segment could scale up. He added that proven players like Byju’s were able to build investors' trust in the segment and show that India had an appetite for edtech as well. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/travel-app-ixigo-files-for-a-1600-crore-ipo/articleshow/85292327.cms" data-type="tilCustomLink">Travel app ixigo files for a ₹1,600 crore IPO</a> <a href="https://www.businessinsider.in/business/ecommerce/news/swiggy-reports-nearly-three-fold-increase-in-annual-revenue-in-neck-and-neck-race-with-zomato/articleshow/85233393.cms">Swiggy reports nearly three-fold increase in annual revenue, in neck and neck race with Zomato</a> <a href="https://www.businessinsider.in/careers/news/lenskart-aims-to-hire-over-2000-employees-to-ramp-up-its-operations/articleshow/85235059.cms">Lenskart aims to hire over 2000 employees to ramp up its operations</a>

From Byju’s to Eruditus — India now has four edtech unicorns, thanks to a $4 billion fund flowing in since 2020

<ul><li>This is the fourth round of funding raised by the Delhi NCR-based startup in the last 15 months.</li><li><keyword id="6251606" type="UNKNOWN" weightage="20" keywordseo="classplus">Classplus</keyword> was founded in 2018 and helps tutors take their traditional classes online.</li><li>It has close to 100,000 tutors on its platform, teaching 20 million students across 1,500 cities in <keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword>.</li></ul>Edtech startup Classplus, which helps tutors go online, has raised $65 million in Series C funding round led by US-based <keyword id="526777" type="COMPANY" weightage="20" keywordseo="Tiger-Global">Tiger Global</keyword>. This is the fourth round of funding raised by the Delhi NCR-based startup in the last 15 months. GSV Ventures, along with existing investors Alpha Wave Incubation (AWI), Blume Ventures and RTP Global also participated in the Series C round. Overall, Classplus has raised over $85 million in funding to date, from investors like Sequoia Capital’s accelerator programme Surge, Times Internet and former cricketer <keyword id="6359039" type="PERSON" weightage="20" keywordseo="sourav-ganguly">Sourav Ganguly</keyword>. Classplus offers a mobile-first software that allows coaching institutes, tuition centres and private tutors to take their traditionally offline classes online. The company claims to serve a user base of 20 million students and 100,000 tutors across 1,500 cities in India. About 80% of the educators on the platform are from Tier-2 and beyond regions. “A typical educator is able to grow its student base from 100 to 1200 students within 8-10 months of using Classplus. The platform has seen massive success stories of educators generating 5x [five times] of their usual incomes within a year of starting up,” the company claimed in its press note. It also claims to help tutors increase their profitability by 2 times to 3 times within 6 months of using the platform. The company’s software solutions allow tutors to run their coaching, communication, assessments, payments, and student engagement programmes through their mobile solutions. Classplus was founded in 2018 by Mukul Rustagi and Bhaswat Agarwal. The company’s chief executive (CEO) and cofounder Rustagi said, “We are on a mission to ensure that every educator can go online and connect with their students across the world. The power of educators has historically been confined to their local neighbourhoods.” The company intends to use their capital raise to build on their product capabilities, grow geographically and expand their engineering team. The company will be hiring aggressively across engineering, product and business roles. Classplus competes with Bengaluru-based edtech startup Teachmint, which also enables teachers to conduct online classes through two-way interactive learning solutions with video sharing and more. The platform was<a href="https://www.businessinsider.in/business/startups/news/byjus-backer-lightspeed-india-invests-in-a-live-tutoring-platform-teachmint/articleshow/78924152.cms"> founded in 2020</a> and has raised $20 million to date from marquee investors like Better Capital, Lightspeed India Partners, Learn Capital and more. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/upside-ai-raises-1-2-million-in-seed-funding-to-help-indians-invest/articleshow/83713098.cms" data-type="tilCustomLink">Personal investment platform Upside AI raises $1.2 million in seed funding to help Indians make money</a> <a href="https://www.businessinsider.in/business/startups/news/james-murdoch-plans-to-raise-150-million-from-ultra-rich-to-invest-in-indian-startups/articleshow/83709567.cms" data-type="tilCustomLink">James Murdoch plans to raise $150 million from ultra rich to invest in Indian startups</a> <a href="https://www.businessinsider.in/business/startups/news/sharechat-around-200-existing-and-former-employees-will-be-eligible-to-participate-in-the-esop-buyback-plan/articleshow/83638787.cms" data-type="tilCustomLink">Sharechat employees will make $19 million out of the latest ESOP plan, as growth spikes in the absence of TikTok</a><h1 style="margin-bottom: 10px; padding-bottom: 15px; border-bottom: 1px solid rgb(238, 238, 238); font-variant-numeric: normal; font-variant-east-asian: normal; font-stretch: normal; font-size: 1.6rem; line-height: 1.2em; font-family: LabGrotesque-Black, Helvetica, Arial, sans-serif; vertical-align: baseline; color: rgb(17, 21, 22); background-color: rgb(255, 255, 255);"></h1>

Edtech startup Classplus raises $65 million led by Tiger Global to bring more tutors online

<ul><li>The company’s cofounder Bhavish Aggarwal will also be infusing an undisclosed amount.</li><li><keyword id="6354720" type="UNKNOWN" weightage="20" keywordseo="ola">Ola</keyword> was founded in 2010 by Aggarwal and Ankit Bhati.</li><li>It had first announced its plans to go public in 2019.</li></ul>Ride hailing giant Ola has raised $500 million from investment titans Temasek and <keyword id="6402698" type="UNKNOWN" weightage="20" keywordseo="warburg-pincus">Warburg Pincus</keyword>, ahead of its initial public offering (IPO). The company’s chief executive and cofounder Bhavish Aggarwal will also be infusing an undisclosed amount in the Bengaluru-based startup in his personal capacity. “Over the last 12 months we’ve made our ride hailing business more robust, resilient and efficient. With strong recovery post lockdown and a shift in consumer preference away from public transportation, we are well positioned to capitalise on the various urban mobility needs of our customers,” Aggarwal said in a statement. Ola was founded in 2010 by Aggarwal and Ankit Bhati. The company has its presence across three continents. It has raised more than $4 billion to date from marquee investors like <keyword id="163404" type="COMPANY" weightage="20" keywordseo="Softbank">SoftBank</keyword>, Tencent, <keyword id="6497288" type="ORGANIZATION" weightage="20" keywordseo="steadview-capital">Steadview Capital</keyword>, Eternal, Sailing Capital, <keyword id="11602378" type="UNKNOWN" weightage="20" keywordseo="china-eurasian-economic-cooperation-fund">China Eurasian Economic Cooperation Fund</keyword> and others. It had been planning its public market debut since 2019. The company had also set up a pre-IPO trust in September 2019. Ola had also started to <a href="https://www.businessinsider.in/business/startups/news/ola-is-shedding-flab-getting-a-makeover-as-it-rides-to-a-big-bang-ipo-in-2-years/articleshow/72292401.cms">restructure its business </a>with layoffs, optimising teams and adding more top executives to the mix. According to a Reuters<a href="https://www.reuters.com/article/us-ola-ipo-idUSKBN1Y30L9"> report</a> published in 2019, Ola was planning to hit the public market by March 2021.However the plans were obviously pushed back due to the Covid-19 pandemic. Ola had to lay off about <a href="https://www.businessinsider.in/business/startups/news/ola-fired-1400-employees-as-revenue-is-hit-by-95-in-the-last-two-months/articleshow/75843656.cms">1,400 employees</a> from its workforce in May 2020, as its revenue had declined by 95% in the first two month of the pandemic-induced lockdown during wave one. "The fallout of the virus has been very tough for our industry in particular. Our revenue has come down 95% over the past 2 months. Most importantly, this crisis has affected the livelihoods of millions of our drivers and their families across India and our international geographies," Aggarwal had told Ola employees in an email. While Ola is planning its IPO, food delivery app Zomato is all set to hit the<a href="https://www.businessinsider.in/business/startups/news/zomato-ipo-to-open-on-july-14-with-shares-priced-at-72-76-apiece/articleshow/84226269.cms"> public market next week</a> on July 14. The Gurugram-based company has set the offer price for its shares at ₹72-76 apiece, to raise ₹9,375 crore ($1.3 billion) through this issue. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/live-teaching-platform-teachmint-app-raises-fresh-funding-of-20-million/articleshow/84257864.cms">Live teaching platform Teachmint raises fresh funding of $20 million after raising over $16 million two months ago</a> <a href="https://www.businessinsider.in/business/startups/news/social-commerce-startup-dealshare-raises-144-million-from-tiger-global/articleshow/84227890.cms">Social commerce startup DealShare raises $144 million from Tiger Global</a> <a href="https://www.businessinsider.in/business/startups/news/these-were-the-biggest-co-founder-exits-in-the-indian-startup-ecosystem/slidelist/84224683.cms">From Swiggy and Zomato to Ola and Delhivery — these startups have seen their co-founders exit for their next adventure</a>

Ola raises half-a-billion dollars from Temasek and Warburg ahead of its IPO

<ul><li>Indian startup sector witnesses a rise in job losses, with over 27,000 tech employees affected and numbers increasing.</li><li>Nearly 26,868 employees have been handed over pink slips by 98 startups.</li><li>At least 22 <keyword id="1464841" type="General" weightage="80" keywordseo="edtech" source="Orion">edtech</keyword> startups have slashed 9,781 jobs to date.</li></ul>At least 27,000 tech employees at Indian startups have lost their jobs since the funding winter crept in last year, and the list is only growing. Nearly 26,868 employees have been handed over pink slips by 98 startups, including unicorns led by the edtech majors, according to data by leading startup news portal Inc42. At least 22 edtech startups have slashed 9,781 jobs to date. In the first five months into 2023, more than 8,000 employees lost their jobs in India by nearly 50 startups. Homegrown virtual events platform Airmeet sacked about 30 per cent of its workforce, or at least 75 employees, according to the report. Corporate expense management platform Happay, owned by credit Card bill payment provider CRED, slashed nearly 35 per cent of its workforce as part of a restructuring exercise. Another homegrown edtech startup Teachmint laid off over 70 employees, its second round of job cuts after sacking about 45 workers more than five months ago. <keyword id="12864" type="General" weightage="80" keywordseo="chennai" source="Orion">Chennai</keyword>-based edtech startup Skill-Lync laid off employees as it consolidates operations across Chennai, Bengaluru, and <keyword id="6354552" type="General" weightage="50" keywordseo="hyderabad" source="Orion">Hyderabad</keyword> amid global macroeconomic conditions. The year 2023 has become the worst year for tech employees as nearly 2 lakh tech employees -- from Big Tech firms to startups -- have been sacked to date globally, as companies like <keyword id="399907" type="General" weightage="50" keywordseo="meta" source="Orion">Meta</keyword>, BT, <keyword id="15492" type="General" weightage="50" keywordseo="vodafone" source="Orion">Vodafone</keyword> and many others announced further plans to lay off more employees in coming months. As per the data by layoffs tracking site Layoffs.fyi, 695 tech companies have shown the doors to around 1.98 lakh employees so far this year. SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/is-whatsapp-secretly-listening-to-your-private-conversations-heres-how-to-check/articleshow/100155980.cms">Is WhatsApp secretly listening to your private conversations? Here’s how to check</a> <a href="https://www.businessinsider.in/tech/news/google-pixel-6a-vs-pixel-7a-smartphone-comparison-with-price-and-features/articleshow/100177889.cms">Google Pixel 6a vs Pixel 7a: Is Google's latest mid-ranger worth the extra ₹12,000?</a>

About 27K employees lost jobs at Indian startups to date, over 8K this year

India’s tech hub sees most layoffs along with sharpest dip in hiring

<ul><li>The IT services giant reported 3.9% quarterly increase in revenue in April-June.</li><li><keyword id="6357150" type="ORGANIZATION" weightage="20" keywordseo="tcs">TCS</keyword> has declared a dividend of ₹7 a share. </li><li>The company gave jobs to 20,409 fresh talent, which is the highest ever quarterly addition.</li></ul>The information technology (IT) services behemoth <keyword id="6357585" type="COMPANY" weightage="20" keywordseo="tata-consultancy-services">Tata Consultancy Services</keyword> (TCS) has onboarded 20,409 fresh talent in April-June, the highest every quarterly addition. With this, its workforce crossed the 500,000 mark this quarter. To put it in perspective, India’s largest employer Indian Railways’ employee count is 1.25 million. The company posted a revenue growth of 3.9% to ₹45,000 crore in June quarter, slightly lower than some <a href="https://www.businessinsider.in/stock-market/news/heres-why-wipro-may-show-better-earnings-growth-than-tcs-infosys-and-hcl-tech/articleshow/84201419.cms">analysts’ estimates</a>. The company’s profit for the quarter stood at ₹9,031 crore, marginally lower than the previous quarter’s profit of ₹9,282 crore. "Our attrition rate 8% is in a way artificial because of... primarily because of pandemic, and that number normally what we are at is about 11-12% is normally which we operate at and even if you look at the past quarters ... in high demand situations actually we go even up to 13-14%. so i think the point is you know that the attrition is definitely going to... going up and there is a (sic) uptick we are seeing there, but it is very much part of our operating model..." said Milind Lakkad, Global Head of Human Resources. This is not a unique problem to TCS as even <a href="https://www.businessinsider.in/careers/news/wipro-fears-it-may-lose-its-employees-to-competitors-as-there-is-an-explosion-of-it-jobs/articleshow/82086258.cms">Wipro </a>has been prepping up for a similar situation as there is a huge boom in tech services, but not enough talent to meet the demand. Further, net income of the company showed good upside trajectory as it grew 28.5% year on year to ₹9,008 crore for the quarter ended June. Moreover, the order book of the company strengthened by 17.3% year on year to $8.1 billion. <table style="border-width: initial; border-style: none;"></colgroup></colgroup></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Apr-June 2021 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Amount </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Remarks </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Revenue </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;"> ₹45,000 crore </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">3.9% up from previous quarter, 18.5% on year </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Net income </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;"> ₹9,008 crore </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">28.5% on year growth </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Order book </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹60,563 crore </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">17% growth on year </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">New hires </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">20,409 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Highest quarterly net head count </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Attrition </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">8.60% </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Lowest ever </td></tr></tbody></table> Besides, all verticals have shown good sequential growth with life science and healthcare showing over 7% growth on quarter. <table style="border-width: initial; border-style: none;"></colgroup></colgroup></colgroup><tbody><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Vertical </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Growth quarter on quarter </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Life sciences and healthcare </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">7.30% </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Retail </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">4.40% </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">BFSI </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">3.10% </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Manufacturing </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">4.80% </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Technology and services </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">5% </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Communication and media </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">1.70% </td></tr></tbody></table> The growth was led by North America (4.1%), UK (3.6%), Continental Europe (1.5%), Latin America (4%) and Middle East &amp; Africa (4.2%) The pandemic’s second wave impacted sequential growth in India (-14.1%) and Asia Pacific (2.4%). The second wave of COVID-19 pandemic hit TCS hard in its India business. While the growth is still strong, it may not be as good as what the market had expected, according to analysts at Emkay Global who cut the revenue growth estimate for the company for the next two financial years. This could weigh the stock down too, they added. <div type="image" title="TCS stock chart" height="900" width="1200" msid="84259084" hostid="261"></div> SEE ALSO: <a href="https://www.businessinsider.in/cryptocurrency/news/chinas-crypto-crackdown-is-not-with-bitcoin-mining-only-stablecoins-software-influencers-are-also-on-its-radar/articleshow/84229285.cms"></a><a href="https://www.businessinsider.in/business/startups/news/live-teaching-platform-teachmint-app-raises-fresh-funding-of-20-million/articleshow/84257864.cms">Live teaching platform Teachmint app raises fresh funding of $20 million (businessinsider.in)</a> <a href="https://www.businessinsider.in/business/news/jeff-bezos-sets-a-new-record-as-his-net-worth-checkout-top-10-richest-peoples-net-worth/slidelist/84225321.cms">Jeff Bezos sets a new record as his net worth hits $211 billion as per Bloomberg Billionaires Index | Business Insider India</a>

TCS has loaded up half a million peeps as it expects many to move on

Zepto, Dunzo among the next 122 unicorns from India — here's the complete Hurun list

The 2020 Presidential election is turning out to be the most expensive election in history and twice as expensive as the previous presidential election cycle, with the total cost of the election expected to reach an unprecedented USD 14 billion, a research group said. The Center for Responsive Politics said that an "extraordinary influx" of political donations in the final months - driven by a Supreme Court battle and closely watched races for the White House and Senate - pushed total spending in the election past the previously estimated 11 billion dollars figure. The Center said that the 2020 election will cost USD 14 billion, shattering spending records. Democratic presidential nominee Joe Biden will be the first candidate in history to raise USD 1 billion from donors. His campaign brought in a record-breaking USD 938 million through October 14, riding Democrats' enthusiasm to defeat Trump. President Donald Trump raised USD 596 million, which would be a strong fundraising effort if not for Biden's immense haul. "Even amid a pandemic, everyone is giving more in 2020, from ordinary individuals making small donations to billionaires cutting eight-figure checks to super PACs. Women are smashing donation records, and Americans are increasingly donating to candidates who aren't running for office in their state," it said in a statement. The 2020 election is more than twice as expensive as the runner up, the 2016 election. This year's election will see more spending than the previo<keyword id="6354458" type="UNKNOWN" weightage="20" keywordseo="US">us</keyword> two presidential election cycles combined, said the Center for Responsive Politics, a nonpartisan, independent and nonprofit research group that tracks money in US politics and its effect on elections and public policy. "Donors poured record amounts of money into the 2018 midterms, and 2020 appears to be a continuation of that trend - but magnified," said Sheila Krumholz, executive director of the Center for Responsive Politics. "Ten years ago, a billion-dollar presidential candidate would have been difficult to imagine. This cycle, we're likely to see two," Krumholz said. The group said that the massive numbers are headlined by unprecedented spending in the presidential contest, which is expected to see USD 6.6 billion in total spending alone, up from around USD 2.4 billion in the 2016 race. Spending by deep-pocketed national groups is also driving the total cost of election higher. In the month of October alone, outside spending by super PACs and other big-money groups totalled nearly USD 1.2 billion. These groups are spending far more to boost Biden than help Trump, further aiding the Democrats cash-flush campaign. Driven by their supporters' strong opposition to Trump, Democrats are continuing their fundraising prowess that helped them dominate the money race in the 2018 election cycle. "Their money machine is more powerful than ever in 2020," the Center said. Democratic candidates and groups have spent USD 5.5 billion compared to Republicans' USD 3.8 billion, the Center said noting that Democrats have never had a financial advantage this large. Both parties raised more than ever from small donors, but Democrats came out on top, having raised nearly USD 1.7 billion from bite-sized donors, compared to USD 1 billion for Republicans. Overall, small donors account for 22 per cent of the money raised in the 2020 cycle. These individual donors giving USD 200 or less only accounted for 15 per cent of money raised in the 2016 election. The pandemic also forced candidates to forgo in-person fundraisers with wealthy donors. Campaigns have increasingly relied on virtual fundraising using texts and emails, a strategy that works better when Americans are more engaged in politics, it said. Political groups have spent over USD 1 billion this year to advertise on platforms like Facebook and Google, according to OpenSecrets' online ads database. Democrats are also raising more in large part because women are giving more. More than 1.5 million women have donated to federal committees, accounting for 44 per cent of all donors, up from 37 per cent in 2016. In the 2020 election, women have given USD 2.5 billion through mid-October, up from USD 1.3 billion throughout the entire 2016 election. According to the Center's research, women are more likely to be Democratic donors. In the 2020 election, women giving over USD 200 have donated nearly USD 1.3 billion to Democrats and roughly USD 570 million to Republicans. Several industries have flipped over to Democrats' side under Trump's presidency, including the well-funded miscellaneous finance and securities and investment industries. Real estate is one of the few major industries to stay in Republicans' corner during the Trump era, giving slightly more to GOP committees than Democrats, it said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/covid-19-vaccine-updates-pfizer-moderna-to-roll-out-covid-19-vaccine-by-december/articleshow/78924143.cms">COVID-19 vaccine updates: Pfizer, Moderna to roll out COVID-19 vaccine by December</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/byjus-backer-lightspeed-india-invests-in-a-live-tutoring-platform-teachmint/articleshow/78924152.cms">BYJU'S backer Lightspeed India invests in a live tutoring platform Teachmint</a>

You Searched For "teachmint funding" and got 13 results

EXCLUSIVE | Teachmint has completed its third acquisition this month and it’s all part of its international play

Kritti Bhalla

Live teaching platform Teachmint raises fresh funding of $20 million after raising over $16 million two months ago

Kritti Bhalla

BYJU'S backer Lightspeed India invests in a live tutoring platform Teachmint

Sanchita Dash

Classplus is now among the highest valued edtech startups outside of the unicorn club

Kritti Bhalla

Edtech startup Classlogic raises USD 100K in seed funding round

ANI

From Byju’s to Eruditus — India now has four edtech unicorns, thanks to a $4 billion fund flowing in since 2020

Kritti Bhalla

Edtech startup Classplus raises $65 million led by Tiger Global to bring more tutors online

Kritti Bhalla

Ola raises half-a-billion dollars from Temasek and Warburg ahead of its IPO

Kritti Bhalla

About 27K employees lost jobs at Indian startups to date, over 8K this year

IANS

India’s tech hub sees most layoffs along with sharpest dip in hiring

Katya Naidu

TCS has loaded up half a million peeps as it expects many to move on

Bhakti Makwana

Zepto, Dunzo among the next 122 unicorns from India — here's the complete Hurun list

Kritti Bhalla

2020 US Presidential election to be most expensive in history, expected to cost $14 billion

PTI

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