K-12 STEM edtech startup Practically laid off some employees amid a cash crunch as its last funding round did not materialise.
The startup has also failed to pay the impacted employees’ salaries. While the exact number of layoffs was not disclosed, Practically’s COO and cofounder Charu Noheria stated in a statement that the company’s headcount has been gradually reduced by 190 employees since mid-August 2022. The startup is restructuring its business model and shifting its focus to the B2B vertical. Practically is an edtech platform that uses AR, VR, and mixed reality to provide immersive STEM education.
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K-12 STEM edtech startup Practically laid off some employees amid a cash crunch as its last funding round did not materialise.
The startup has also failed to pay the impacted employees’ salaries. While the exact number of layoffs was not disclosed, Practically’s COO and cofounder Charu Noheria stated in a statement that the company’s headcount has been gradually reduced by 190 employees since mid-August 2022. The startup is restructuring its business model and shifting its focus to the B2B vertical. Practically is an edtech platform that uses AR, VR, and mixed reality to provide immersive STEM education.
Disclaimer
We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
