Thursday, June 13, 2024
Outlook India
Outlook Business

Gaurav Munjal

She was earlier the chief people officer at Sapphire Foods, overseeing HR strategies for brands like Pizza Hut and KFC

PrepInsta is currently present in several cities, such as Bengaluru, Coimbatore, Vishakhapatnam, Trichy, Mangalagiri (AP), and Indore, through its collaborative ventures with academic institutions

The development came a few months after Relevel, an Unacademy-owned brand, fired nearly 40 employees as a cost-cutting measure

The edtech is shutting down its core education business and moving to a test product business with a newly launched application called NextLevel

Founded in 2018, the edtech was acquired by Ronnie Screwvala led upGrad in July 2022 for Rs 300 crore

The development came weeks after Swiggy’s competitor, Zomato, announced plants cut down the employee number by 3 per cent to combat the economic downturn

In July 2021, the company raised $75 million in a Series C funding round led by LeapFrog and Khosla Ventures

India is currently the home of the third largest ecosystem of start-ups after the US and China

The development comes five months after it raised $255 million from marquee investors including Google, Times Group and Temasek

The global fintech player has witnessed a 44 per cent drop in its share prices