After the recent news of India’s largest Ed-Tech unicorn Byju’s laid off  2500 employees, which is approximately 5% of its total workforce now raises $250 million from existing investors. As per the sources company’s valuation is now $22 billion which is the same value that company had during its previous round.

Also the company plans to reduce its workforce even more over the next six months which will further help in reducing its cost and achieving better unit economics.

“BYJU’S is now at that sweet spot of its growth story where the unit economics and the economies of scale both are in its favour. This means the capital that we now invest in our business will result in profitable growth and create sustainable social impact,” Byju Raveendran, Founder and CEO of BYJU’S, said in a statement.

Also he added “Regardless of the adverse macroeconomic conditions, 2022-23 is set to be our best year in terms of revenue, growth and profitability. Continued support from our esteemed investors re-affirms the impact created by us so far, and validates our path to profitability.”

Aakash Education and Great Learning, respectively into test-prep and upskilling, will continue to operate as stand-alone independent units. The group is also increasing the strength of its inside sales team for more efficient and effective consumer-centric lead conversions rather focusing more on technical team. There are more of technical team employees who have been laid off among 2500 employees.

The group is also increasing the strength of its inside sales team for more efficient and effective consumer-centric lead conversions.

In line with its long-term strategic plan, BYJU’S launched its hybrid learning offering BYJU’S Tuition Centre (BTC) in 2022 to bring the best of online and classroom teaching to students.