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.
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“Bluelearn was an impactful chapter, but it is time to move on to our next one,” Uthayakumar added.
With this, Bluelearn joins the growing list of startups that have shut down operations.
On July 19, ET reported that more than a dozen Indian edtech startups have been acquired in the past year with some even shutting down, underscoring a challenging funding scenario for smaller firms.
On July 3, ET reported that Indian social media app Koo said that it was shutting down after several rounds of talks for a potential sale or merger with multiple companies, including Dailyhunt, failed.
On April 30, artificial intelligence-led software startup Nintee, backed by investors such as Peak XV Partners and Cred founder Kunal Shah, shut down operations.
On March 11, fashion startups Fashinza and Virgio — backed by the likes of Accel and Alpha Wave initiated a process to return most of the capital they had raised, after a change in their business models.