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BYJU’s-owned Toppr has laid off 300 employees which makes up around 20 per cent of its workforce, while the rest 80 per cent of the team has been absorbed into the BYJU’s ecosysterm.
“ As the next step, we are optimising teams to recalibrate business priorities and accelerate our long-term growth,” a BYJU’s spokesperson said.
Toppr was founded in 2013 by Zishaan Hayath and Hemanth Goteti. BYJU’s had acquired Toppr for $150 million cash and stock deal in 2021.
Toppr’s lay off comes a day after another BYJU’s-owned company WhiteHat Jr laid off 300 people.
Layoffs are a growing trend across the larger start-up ecosystem too given the uncertainties of the outside world and tight capital availability. More and more companies are now rationalising their expenses in order to ensure a longer capital runway.
Funding winter has been particularly harsh for edtech companies focusing on K-12 segment. In the past few months, around 2,438 employees have been laid off from edtech companies such as Vedantu, Unacademy and Eruditus, among others. The funding crunch has even led smaller companies such as Lido Learning and Udayy to shut operations.
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