According to CEO and cofounder, Emeritus will emerge profitable this quarter (April-June) as the startup’s enterprise business has grown 3X between 2020 and 2022
As far as the broader funding environment is concerned, it will continue to be challenging for the next 12 to 18 months, at least, before some level of normalcy returns: Ashwin Damera
If we have to become an intellectual powerhouse as a country, at least 40% of the 600 Mn individuals below 25 years of age will have to enrol in higher studies, Damera said
The Indian edtech startup ecosystem is in the doldrums. With more than 80 startups firing more than 25,000 employees since 2022, edtech startups alone account for nearly 37% of these job losses. Although the sorrows of the ongoing funding winter are to blame for the bloodbath, the wounds that the sector bears run deeper than they currently appear to be.“This is the time that demands us to be wary of our new initiatives, capital expenditure, and reckless cash burns. In short, we will have to be more conservative. As far as the broader funding environment is concerned, it will continue to be challenging for the next 12 to 18 months, at least, before some level of normalcy returns,” Damera cautioned.As far as the broader funding environment is concerned, it will continue to be challenging for the next 12 to 18 months, at least, before some level of normalcy returns. This is the time that demands us to be wary of our new initiatives, capital expenditure, and reckless cash burns. In short, we will have to be more conservative.The only sour note of caution is if we don’t help our youth get higher education. So, in the next 10 years, if we don’t get serious about educating the youth, we could be staring down the barrel.
Speaking with Ashwin Damera, the CEO and cofounder of edtech startup Emeritus whose parent company is Eruditus Executive Education, we (Inc42) tried to understand the post-pandemic pain points that a majority of Indian edtech startups have been enduring.