Bengaluru based Edtech startup Bluelearn to shut down Operations

"We had been very conservative with capital, allowing us to return 70% of the capital we raised back to investors"- Harish Uthayakumar

Edtech startup Bluelearn will be shutting down its operations and will be returning 70% of the capital to its investors according to co-founder Harish Uthayakumar in his recent post on X, formerly Twitter. 

Uthayakumar explained that building a large, successful business with Bluelearn was challenging. They managed their finances cautiously, which allowed them to return a significant portion of the raised capital to their backers. In a YouTube video, he mentioned that they couldn’t see Bluelearn growing into a major business with substantial revenue.

This Bengaluru-based, community driven edtech platform focuses on providing tier 2 and tier 3 college students with network, skills and help connect with industry experts. It was founded in 2021 by Harish Uthayakumar and Shreyans Sancheti, alumni of BITS Pilani Goa, while being in their final year. 

The startup initially raised Rs 3.25 crore in June 2021 during a pre-seed round and secured $3.5 million in seed funding by August 2022. At that time, it was valued at $10.8 million. The investors in the company included 100X, Titan Capital, Elevation Capital, Lightspeed India, and other angel investors.