Unacademy, an Indian edtech unicorn last valued at $3.4 billion, is actively seeking a merger or outright acquisition as it navigates a challenging period in the industry. According to The Morning Context, Unacademy has approached several companies including K12 Techno, coaching institute Allen, and edtech company Physics Wallah. This comes on the heels of significant upheaval in the firm, including the exit of co-founder and CTO Hemesh Singh, as well as recent layoffs affecting 250 employees. This latest development is indicative of a broader crisis afflicting the edtech sector post-pandemic, as illustrated by the recent troubles of another high-flying startup, Byjus. The Covid-19 pandemic had temporarily boosted valuations and growth, but the return of students to traditional educational settings has led to a significant downturn in the sector.

EdTech, Corporate Restructuring,India