Cuemath Follows BYJU’S, Unacademy; Launches First Offline Centre

Google-Backed Edtech Startup Cuemath’s FY22 Loss Surges 66% To INR 216.6 Cr

SUMMARY

Cuemath has opened its first physical centre in Gurugram and is aiming to open more such learning centres in India and the UAE in 2024

Founded in 2013 by Manan Khurma and Jagjit Khurma, Cuemath offers mathematics courses to K-12 students and claims to have a presence in over 80 countries

The development comes months after Cuemath fired 200 employees across two layoff rounds in May and August this year

Google and Peak XV-backed edtech startup CueMath has become the latest Indian edtech startup to enter the offline segment with the launch of its first physical centre in Gurugram.

The learning centre includes maths classrooms, maths play areas with physical maths manipulatives, and a maths library, the startup said in a statement. It added that the learning centre will be open to K-12 students all seven days a week.

The startup said it aims to open more such learning centres in India and the UAE in 2024.

Founded in 2013 by Manan Khurma and Jagjit Khurma, Cuemath offers maths courses to K-12 students and claims to have a presence in over 80 countries.

Cuemath said it has hired a new set of teachers for the offline learning centre, in addition to its network of over 5,000 maths tutors.

The development comes months after Cuemath fired 200 employees across two layoff rounds in May and August this year.

The edtech startup, valued at $407 Mn post-money during its $57 Mn fundraise last year, counts the likes of Google, Peak XV Partners, Lightrock India and Alpha Wave among its backers.

In the statement, Cuemath said the UK, the US and Singapore have emerged as a significant market for it, besides India, in recent times.

With the opening of the physical centre, Cuemath has joined the likes of BYJU’S, Unacademy, PhysicsWallah (PW) and many other edtech startups which have taken the offline route.

After two years of hypergrowth during 2020 and 2021, during which the pandemic forced schools and colleges to remain closed, the edtech segment has faced two harsh years in 2022 and 2023, resulting in thousands of layoffs. The reopening of educational institutions after the pandemic resulted in a slowdown in the business for edtech companies, as a result of which they have been foraying into the offline market.

Earlier, BYJU’S acquired a stake in Aakash Educational Services Limited (AESL) for nearly $1 Bn to enter the offline coaching space. Meanwhile, the likes of Unacademy and PhysicsWallah are organically expanding their presence offline.