Edtech startup Bluelearn shuts shop, to return 70% of capital to investors
Bluelearn has shut down operations and will return 70% of the capital it raised to its investors.
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“We realised that building a venture-scale business with Bluelearn was tough. We had been very conservative with capital, allowing us to return 70% of the capital we raised back to investors,” Bluelearn cofounder Harish Uthayakumar wrote in a post on X on Sunday.
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Offering CollegeCourseWebsiteIndian School of BusinessISB Product ManagementVisitMIT xPROMIT Technology Leadership and InnovationVisitIIT DelhiCertificate Programme in Data Science & Machine LearningVisit <div data-placement=«Mid Article Thumbnails» data-target_type=«mix» data-mode=«thumbnails-mid» style=«min-height:400px; margin-bottom:12px;» class=«wdt-taboola» id=«taboola-mid-article-thumbnails-111920548»>The edtech company had raised $4 million in funding from venture capital firms like 100x VC, Titan Capital, Elevation Capital, and Lightspeed along with angel investors like Meesho founders Vidit Aatrey and Sanjeev Barnwal, Pixxel founder Awais Ahmed, among others.
Founded in 2021 by BITS Pilani alumni Uthayakumar and Shreyans Sancheti, the Bengaluru-based company started as a community on Telegram where students shared doubts with experts. The app provided a one-stop platform for students to learn new skills, network with peers, and apply for internships.
According to Uthayakumar, the community on its own app had expanded to 250,000 members from over 20 countries including the United States, the United Kingdom and Singapore.
“Bluelearn was an impactful chapter, but it is time to move on to our next one,” Uthayakumar added.
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