Teachmint’s co-founder and CTO, Anshuman Kumar, has resigned from the edtech startup to focus on his new venture, Duolop. Kumar announced his departure on LinkedIn and revealed that Duolop is a platform for couples that simplifies the complexities of managing a relationship. It offers a private chat feature, where couples can send messages, images, and videos to each other, and helps them plan dates. Teachmint, which helps teachers and schools digitize their classrooms, has struggled to scale its business and recently pivoted from a B2C to B2B model. The startup’s net loss rose 24x to INR 131.70 Cr in FY22 from INR 5.52 Cr in FY21, and it laid off 45 employees in November 2021.
It seems that Teachmint, like many other edtech startups, has been facing challenges in scaling up its business and dealing with mounting losses. As a result, the startup has pivoted from a B2C to a B2B business model, offering software to help digitize schools. This is a significant shift from its original focus on an app that enabled tutors to digitize their classrooms. It remains to be seen how successful this pivot will be for Teachmint, but it appears that the company is taking steps to adapt to the changing needs of the education industry. It seems that Teachmint has been facing significant financial challenges, as evidenced by its increasing net losses and relatively low operating revenue. The layoff of 45 employees in November 2022 also suggests that the company is taking steps to restructure its operations in order to cut costs and focus on more promising areas of its business. It remains to be seen whether these efforts will be enough to help the company turn things around and achieve sustainable growth in the highly competitive edtech market.