SCALER ACADEMY FUNDING
Scaler Academy posts five-fold rise in FY23 revenue to Rs 317 crore
Scaler Academy said its operational revenue rose to Rs 316.7 crore in the financial year ended March 2023, from Rs 65.6 crore a year earlier. Total expenses at the firm went up to Rs 654.6 crore, significantly pushed up by employee expenses of Rs 322.07 crore and other expenses of Rs 316.93 crore.
Founder vulnerability in technology ecosystem is worrying: Indian startup industry on Sam Altman’s ouster from OpenAI
While the exact reasons behind Altman’s abrupt ouster are still to be disclosed by OpenAI, multiple executives ET spoke to say his exit would affect the pace of evolution of AI and put the lens on the composition of startup boards, globally.
Deep tech, AI, quantum ventures lead Peak XV Surge’s ninth cohort
Peak XV Partners' scale-up programme Surge has chosen 13 early-stage startups for its ninth cohort, focusing on deeptech, artificial intelligence, advanced manufacturing, and quantum computing. Surge has shifted its sectoral mix to more advanced technologies from consumer brands and vertical ecommerce.
Festive high for online lending; slowdown for IT majors
The ongoing festive season is proving to be a shot in the arm for the digital lending industry. This and more in today's ETtech Morning Dispatch.
Star Sports records 124 million viewers for ICC WTC Final match
Star Sports saw a record number of 124 million viewers tuning in to watch the live broadcast of the International Cricket Council (ICC) World Test Championship Final 2023, exceeding the previous WTC Final's viewership by 32%. The company also had an impressive 14.4 billion minutes of watch time for live broadcasts, making it the highest aggregate watch time for any test match in history.
Community management startup Threado raises $3.1 million in funding led by Vertex Ventures
Threado plans to utilise the funds to strengthen its team, double down on the product and accelerate traction in the North American market.
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Edtech startup Scaler Academy bags $55 million in funding led by Lightrock India
The company, whose valuation has increased to $710 million after the funding, will use the capital for expansion, inorganic growth and to beef up its technology platform, said Abhimanyu Saxena, cofounder of Scaler.
Economic Survey unpacked; budget wish lists for EV, edtech, ecomm
The survey also showed that Delhi has replaced Bengaluru as the startup capital of India in recent years. Over 5,000 recognised startups were added in Delhi while 4,514 startups were added in Bengaluru.
Wires that run the world
Last year, there were 4.28 billion mobile internet users on the planet, meaning that more than 90% of people who accessed the internet did so using a mobile device. But this increasingly wireless world we live in is an illusion.
Exclusive: Scaler is in talks to bag $70-100 million funding
Scaler, which helps working professionals upgrade their skills and grow in their respective careers, has so far raised $21.5 million from marquee investors such as Sequoia India, Tiger Global, Global Founders Capital and Rocket Internet.
Youngest Indian unicorn; Pine Labs hires bankers for IPO
In September 2018, Udaan became the fastest Indian startup to achieve unicorn status, doing so in just 26 months. But with the unprecedented sums that Indian startups have been raising this year, that record was always under threat.
EV leasing picks up in India; women flock online to learn tech skills
Leasing vehicles has never been big business in India, but in the nascent electric vehicle market, many companies are betting big that it will be a game-changer.
ETtech Deals Digest: Skit, Bikayi raise funds; Prosus acquires BillDesk
India's startup ecosystem witnessed smaller funding rounds this week.
E-commerce gets a booster shot
In today's ETtech Morning Dispatch newsletter, e-commerce firms get a pandemic boost from Mumbai and Delhi; Digital payments see a sharp decline; and Infosys begins internal probe after insider trading allegations.
Scaler hires 5 new hands for top roles
Scaler Academy earlier functioned in an income-sharing model where learners would pay the fee of the course after they landed a job
Tech hiring leads white collar job recovery in India
Companies including Accenture, Cognizant, Oracle, Flipkart, JP Morgan, EY and Wipro said they are significantly increasing their hiring this year.
Engineers crowd coding schools to upskill to stay relevant in job market
Experts said the Covid-19 crisis has spurred companies to adopt technology into each of their functions, and that skills in Python, Android development, JavaScript, Elixir, and UI/UX will command a premium in the job market.
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