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Edtech Startup SiglQ.ai secures $9.5 Mn in Seed funding

EntrackrEntrackr · 9m ago
Edtech Startup SiglQ.ai secures $9.5 Mn in Seed funding
Medial

Edtech startup SiglQ.ai has raised $9.5 million in a seed funding round co-led by The House Fund and GSV Ventures, with participation from Duolingo, General Catalyst India (Venture Highway), Peak XV Partners, Calibrate Ventures, and a group of angel investors, including Perplexity co-founder Andy Konwinski, Christian Storm, Trevor Darrell, Jitendra Malik, Srini Devadas, Sharad Malik, among others. The funds will be used to accelerate hiring top talent, enhance its AI models, and scale its platforms to educational systems worldwide, SiglQ.ai said in a press release. Founded in 2023 by Karttikeya Mangalam and Kurt Keutzer, SiglQ.ai develops AI-powered learning tools that offer personalized education at scale. Its flagship products, PadhAI and EverTutor.ai, currently serve hundreds of thousands of students globally, with a mission to transform the future of education. After 18 months in stealth mode, the company has emerged with two live products—PadhAI and EverTutor.ai—targeting the U.S. and Indian higher education markets. Notably, the company claims that PadhAI Tutor ranked #1 nationally in the live UPSC 2024 Civil Service Exam, outperforming over 1.3 million human candidates and surpassing AI systems such as ChatGPT and Claude. SiglQ.ai also states that PadhAI has rapidly gained momentum, attracting over 200,000 UPSC aspirants in India. Meanwhile, EverTutor.ai, tailored for GRE preparation, has drawn more than 10,000 users within just three months of launch. Looking ahead, SiglQ.ai plans to further expand EverTutor’s reach, supporting GRE aspirants through the upcoming spring and fall exam cycles. The company is also set to showcase the latest advancements in EverTutor and PadhAI at ASU+GSV, reinforcing its position as a leader in AI-driven education.

Unacademy to pivot from company operated centres to a franchise model

EntrackrEntrackr · 17d ago
Unacademy to pivot from company operated centres to a franchise model
Medial

Unacademy to pivot from company operated centres to a franchise model Unacademy's Gaurav Munjal added that several major exam preparation verticals such as UPSC, NEET PG and CAT have turned contribution margin positive. Edtech unicorn Unacademy is recalibrating its business with a sharper focus on profitable growth after a year of significant cost correction, according to an internal email sent by co-founder and CEO Gaurav Munjal to employees. In the communication, Munjal said that Unacademy reduced its test prep burn to around Rs 200 crore in calendar year 2024 from nearly Rs 450 crore earlier. The reduction followed a series of operational changes including shutting down underperforming initiatives and prioritising core businesses. He added that several major exam preparation verticals such as UPSC, NEET PG and CAT have turned contribution margin positive. Munjal further added that PrepLadder and Graphy were cash flow positive for the full year. Meanwhile, language learning platform Airlearn scaled its annual recurring revenue from about $200,000 at the start of 2025 to nearly $3 million by the end of the year. As part of its restructuring, Unacademy plans to exit its company operated offline centre business over the coming months by converting these centres into franchise partnerships. According to Munjal, the franchise model allows local operators to manage operations while Unacademy provides academics, technology and reach. He said the transition is expected to be completed by April, after which the company will have a significantly leaner cost structure. The internal email comes shortly after the acquisition talks between Unacademy and upGrad were called off due to valuation differences. The discussions had been underway for several months amid a broader slowdown in edtech deal activity and valuation resets across the startup ecosystem. upGrad co-founder Ronnie Screwvala later confirmed that the deal did not materialise. Munjal said the calendar year 2026 would be focused on growth rather than survival, with improving unit economics across online test prep and faster than expected growth in Airlearn. He added that Unacademy is now positioned to scale with greater financial discipline.

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