Home / Companies / News / Funding may dry up for next 12-18 months: Unacademy CEO tells employees

Funding may dry up for next 12-18 months: Unacademy CEO tells employees

Travel only if it is absolutely needed and meetings that can happen on Zoom should happen on Zoom, Gaurav Munjal tells employees

Premium

Unacademy

Peerzada Abrar Bengaluru

5 min read Last Updated : Aug 01 2023 | 5:15 PM IST

Listen to This Article

Unacademy predicts a funding winter lasting 18 to 24 months and will cut costs to weather the dry spell, said the chief executive of the education technology unicorn that recently laid off more than 600 employees.

“This is a test for all of us. We must learn to work under constraints and focus on profitability at all costs. We must survive the winter,” said Unacademy's co-founder and CEO Gaurav Munjal in a letter to the employees.

“Winter is here. We are looking at a time when the funding will dry up for at least 12-18 months. Some people are predicting

What you get on BS Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.

VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in