Unacademy reduces cash burn by 60%, has Rs 1,800 crore in the bank: CEO

Unacademy claims Rs 1,800 crore in the bank, reduces cash burn by 60%. Co-founder & CEO Gaurav Munjal assures employees of more than four years of cash reserve and cash flow positive Q2. Edtech segment struggles with funding, drop in demand. Unacademy's online business degrew by 30% but EBITDA improved by 87%. Unacademy expands offline learning centres. Several edtech firms including Byju’s, Vedantu and most recently Physics Wallah cut jobs post the decline of the Covid-led spurt in subscription of digital services.