News Update

Report: Edtech startup Camp K12 fires 70% of its employees

• ByStartupStory     |    February 22, 2023

Camp K12 reportedly lays off 70% of staff and faces payment dispute, as VC funding slows and students return to in-person classes. The edtech startup based in Gurugram is the latest company to downsize its workforce, and has allegedly refused to pay dues to employees. These changes were reported by The Morning Context.

Anshul Bhagi founded Camp K12 in 2010 to offer STEAM (Science, Technology, Engineering, the Arts and Mathematics) courses through interactive and live-learning classes to students from kindergarten to 12th grade.

 However, as venture capital firms reduce funding and students return to traditional classrooms, many Indian edtech startups, including Unacademy, Vedantu, and BYJU’s, have laid off thousands of employees in the past year. 

Edtech company Unacademy downsized its workforce by 20% at its subsidiary, Relevel, in January 2023. Similarly, BYJU’S, a unicorn edtech startup, reportedly laid off 900-1,000 employees across different teams and functions earlier this month. 

These layoffs come amid the current financial crunch faced by the Indian edtech sector due to the return of students to physical classes and decreased funding from venture capital firms.

The job cuts impacted primarily the marketing, design, logistics, and technology teams in India, as well as product teams in the international business. In the previous year, the startup led by Byju Raveendran laid off roughly 2,500 employees.

 

 

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