Nigerian online teaching platform Klas has raised $1 million in pre-seed funding led by Ingressive Capital, with participation from Techstars, HoaQ Capital, and several angel investors. Founded in 2022 by Nathan Nwachuku and Lekan Adejumo, Klas enables users to create and sell ebooks, courses, and live classes. The platform offers essential class components such as … Read more
After months of private scuffles, Byju’s and some of its largest investors are now taking their fight public. Byju’s, once India’s most valuable startup, said Friday its investors do not have the voting right to seek leadership changes, a day after a group of shareholders called for an extraordinary general meeting to remove founder Byju … Read more
Shares of online education company 2U closed down 57% Friday, falling below $1 for much of the day after a problematic forecast and indications that some universities are terminating their contracts. 2U, which helps companies offer digital programs to students, posted a net loss of $47.4 million for the third quarter. Its adjusted loss of … Read more
Indian edtech giant Byju’s said on Saturday that revenue of its core business, its largest, in the financial year ending March 2022 stood at $429.18 million, making it clear that the most valuable Indian startup has missed the unaudited $1.25 billion revenue it projected for the group a year ago. Byju’s also missed its revenue … Read more
International audit agency Deloitte has resigned because the auditor of Byju’s and didn’t undertake the auditing of the edtech behemoth’s financials for the 12 months ending March 2022, it stated Thursday, a 12 months after the Indian startup’s tardy monetary disclosures attracted international scrutiny. Byju’s in a press release termed Deloitte’s resignation as “deliberate transition” … Read more
Byju’s has raised $250 million and is near securing about $700 million extra, two folks accustomed to the matter stated, because the Indian edech big builds up its battle chest forward of the highly-anticipated IPO of its subsidiary Aakash. The New York-headquartered funding agency Davidson Kempner has invested $250 million in Byju’s through structured devices, … Read more