Unacademy CEO Gaurav Munjal says funding winter can last up to 18 months

As edtech platforms start bleeding in India, Unacademy, which recently laid off over 600 employees, has predicted a funding winter that can last as long as 18 months, saying it will cut costs wherever required to weather the dry spell and become profitable.

In a letter to employees, Unacademy’s co-founder and CEO Gaurav Munjal said that “we must learn to work under constraints and focus on profitability at all costs”.

“Winter is here. We must change our ways. We will focus on organic growth channels instead,” he wrote.

Backed by SoftBank and Tiger Global, online learning platform Unacademy last week announced its foray into opening physical tuition centres across the country, following BYJU’s footsteps.