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Bluelearn, an edtech startup, shuts down due to scaling challenges despite raising $4 million from investors.
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The startup will return 70% of the capital raised to its investors.
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Bluelearn aimed to level the educational playing field for students from tier-2 and 3 colleges.
Bluelearn, an edtech startup that offered upskilling and job search services, has announced its shutdown due to difficulties in scaling its business. Despite its initial success and raising $4 million from notable investors, the startup struggled to grow and has decided to return 70% of the capital raised to its investors.
Founded in 2021, Bluelearn aimed to provide students from tier-2 and 3 colleges with the same opportunities as those from top institutions. The startup had a large community of over 250,000 members and had received funding from investors such as Elevation Capital, 100X, and Lightspeed.
However, the startup faced challenges in scaling its business, leading to its shutdown. This is not an isolated incident, as several startups have shut down in the past 14 months due to growth, regulatory, or funding challenges.
