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From software to smartboards: Behind edtech Teachmint’s pivot to hardware

What started as a SaaS platform for teachers is now a company dealing with hardware, building its classroom kits in-house in partnership with contract manufacturers like Zetwerk

India’s edtech soonicorns are losing connect with their valuations as growth sputters

According to experts, if the business model of edtech companies doesn’t make unit economic sense, it is not sustainable and scalable

Edtech startup Teachmint sacks 70 more employees in second round of layoffs in six months

Mihir Gupta, co-founder and CEO of the company informed about the layoffs in a town hall on May 4, a person with direct knowledge of the matter told Moneycontrol. Gupta told employees that the company had to cut jobs purely because of role redundancies and it was not performance-based, the person said.

Edtech Teachmint, valued at Rs 4,000 cr, earned Rs 80 lakh from ops in FY22

FY22 was the first full year of operations for Teachmint, and the company raised over $110 million (close to Rs 800 crore) during the period. Naturally, it earned revenue from interest on fixed deposits and Interest on income tax refunds of Rs 12.7 crore.

Lightspeed-backed Teachmint becomes latest edtech startup to lay off employees

Teachmint has offered a severance package of three months and health coverage to the laid-off employees and would would also expedite the vesting of ESOPs for the affected employees and the laid-off employees can apply for different roles within the organisation

Growth, not profit, is the lifeblood of a startup: Rocketship VC’s Venky Harinarayan

At a time when some of the world’s largest venture capital (VC) firms, including Sequoia Capital and Y Combinator, are sending out notes to their portfolio companies to prioritise profitability over growth, Rocketship VC’s Venky Harinarayan is advising portfolio startups to stay put on growth.

Edtech infra firm Teachmint acquires ERP startup MyClassCampus

This deal marks Teachmint’s fourth acquisition in recent months after it acquired and acquihired firms like Teachmore, Teachee India team, and Airlearn.

16-month-old ed tech firm Teachmint valued at $500 million

Sixteen-month-old Teachmint, founded by Mihir Gupta, Payoj Jain, Divyansh Bordia and Anshuman Kumar has capitalised on the online education boom during the pandemic and has raised $116 million since inception.