EdTech meltdown continues: upGrad Campus lays off 30% workforce at subsidiary

This is the second layoff in recent times in an upGrad-owned company. upGrad Campus functioned independently as a subsidiary after being acquired in March 2021 by upGrad for Rs 300 crore
Representative Picture | Pic: Edexlive
Representative Picture | Pic: Edexlive

Online higher education company upGrad has laid off nearly 30% of its workforce at its subsidiary "Campus". According to leading start-up covering portal Entrackr, citing sources, a lack of VC funding has caused layoffs in the start-up ecosystem, affecting especially late-stage organisations, reported IANS.

This is also the second layoff at an upGrad-owned company. Harappa Education, which was acquired by upGrad for Rs 300 crore in July 2022, laid off 30% of its workforce in January, affecting nearly 60 employees, according to the report.

upGrad Campus is the rebranded version of Impartus, which was purchased by Ronnie Screwvala-backed upGrad for Rs 150 crore in March 2021. Impartus Co-founder Amit Mahensaria assumed the role of Chief Operating Officer at upGrad Campus, which operated independently as a subsidiary after the acquisition.

Moreover, another EdTech platform, Unacademy-run Relevel, laid off 40 employees, or 20% of its workforce, in January, as it shifts its focus from the education business to "tests product" and a new app called NextLevel. Last month, BYJU'S laid off a further 15% of its employees from its engineering teams, as the company continues phased layoffs to remain growth-oriented in a global economic meltdown. The company, in a fresh round of layoffs, let go of more than 1,000 workers.

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