As India’s edtech industry hits the brakes, the company finds itself caught between a rock and a hard place.
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At the ASU+GSV & Emeritus summit in Gurugram, even as experts rallied behind AI, everyone seems to have forgotten the significant failures in the last five years.
The Bengaluru-based edtech company seems to have flogged its US assets multiple times over the years, putting a question mark on the ownership of the entities that stood guarantee for its $1.2 billion term loan.
The edtech startup’s four-year journey from ambitious disruptor to shutdown offers crucial lessons on innovation, market realities and the resilience of traditional higher education institutions.