edtech

Camshaft disclosed in court filings this week that some $533 million it managed for Byju’s Alpha, a U.S. unit of Indian edtech group Byju’s, was transferred to another 100% and U.S.-based subsidiary of Byju’s, thereby refuting allegations that the Indian firm used the wealth manager’s services to misappropriate money. In the court filings, Camshaft said the capital was transferred to Inspilearn LLC, a Delaware-based subsidiary of Byju’s. Camshaft also clarified that Byju’s or any of its entities…

Byju Raveendran, founder of troubled edtech Byju’s, emphasised to his staff in a note on Saturday saying he remains the chief executive of the firm and there are no changes at the company. His note comes a day after a group of investors unanimously voted to oust him as the CEO of the online education platform. Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIndian School of BusinessISB Professional Certificate in Product ManagementVisitIIM LucknowIIML Executive Programme in FinTech,…

A group of Byju’s investors on Friday voted to remove the edtech group’s founder and chief executive Byju Raveendran and separately filed an oppression and management suit against the leadership at the firm to block the recently launched rights issue in a surreal moment for the startup, once India’s most valuable. At an emergency general meeting (EGM) that concluded earlier today, a group of investors including Prosus Ventures and Peak XV Partners voted to change the leadership at the startup. The participating…

As edtech platforms move towards deploying artificial intelligence tools to enhance offerings, a clear divide has emerged within various segments of the industry.While higher education and upskilling startups are anticipating greater benefits from the technology, those servicing schools and students on a large scale may run into some headwinds, founders and executives at edtech companies told ET.Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteMITMIT Technology Leadership and…

Amidst financial turbulence at Byju's, a group of key investors at the edtech have called for an extraordinary general meeting on Friday to oust its founder CEO Byju Raveendran and his family members over "mismanagement and failures" at what was once India's hottest tech startups, sources said. The shareholders, who have called the EGM, collectively hold more than 30 per cent stake in Byju's. Raveendran and family own about 26 per cent in the company. Elevate Your Tech Prowess with High-Value Skill CoursesOffering…

Hospitality startup Oyo has finalised plans to pull its IPO and instead look to tap private investors for a fund infusion. This and more in today’s ETtech Morning Dispatch.Also in the letter:■ Paytm, Byju’s staff hunt for jobs■ P2P cos go easy on partnerships■ Info Edge reports quarterly resultsOyo may back out of IPO plan, opt for private raise Oyo Hotels & Homes, which first filed a draft application for an initial public offer (IPO) of over $1 billion in October 2021, is scrapping its public listing plans.…

The story of edtech unicorn Emeritus, a leading player in online executive education, is now a case study at the Harvard Business School (HBS), the company said on Tuesday.‘Emeritus: Achieving impact, providing access’ traces the first phase of the company’s founding journey by co-founders Ashwin Damera and Chaitanya Kalipatnapu, showcasing its innovative approach to education, which has expanded opportunities to learners globally, and previews the road that lies ahead.Elevate Your Tech Prowess with High-Value Skill…

The interview and assessment platform CodeSignal has a new AI-powered, online learning platform that aims to build professionals’ technical skills, as companies everywhere struggle to keep up with rapidly changing technology.On Thursday, the company debuted CodeSignal Learn, which features about 100 technical skills courses ranging from intro to programming to full stack engineering. CodeSignal Learn will offer a free tier and a paid tier, which will cost $24.99 per month. The platform was announced at CodeSignal’s annual…

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 scheduling, payments, community features, analytics, and video conferencing, catering to various subjects from coding and design to finance, art, and…

Education tech company Blackbaud agreed to settle with the U.S. Federal Trade Commission over the company’s security practices that resulted in a 2020 data breach. The FTC alleges that Blackbaud, a U.S.-based company that provides financial and administrative software to colleges, nonprofits, healthcare organizations and far-right organizations, had “lax” security protocols that allowed attackers to breach the company’s network and access the personal data of millions of consumers. This February…