The Peak XV Partners-backed edtech platform reduced its loss to Rs 1,678 cr in FY23 from Rs 2,847 crore in the previous fiscal year. Unacademy's operating revenue grew to Rs 907 crore in FY23 from Rs 719 crore in FY22, reports Entrackr. The edtech company cut its advertising cost by 32.6 per cent during FY23. Unacademy Losses Down 40% in FY23, Revenue Grows 26%, Following Employee Layoffs; Check Details.
The firm has backed aerospace and defence sector startups like satellite bus developer K2 Space, machining startup Hadrian, and cybersecurity company Galvanick. Indian-Origin Entrepreneur Jai Malik's Early-Stage Venture Capital Firm Countdown Capital To Shut Down by March-End Amid the Funding Winter: Reports.