Amazon will phase out Academy, an Indian edtech service launched in 2021 to help students prepare for admission to engineering colleges, starting August 2023 (Manish Singh/TechCrunch)

Manish Singh / TechCrunch:
Indian edtech giant Byju’s plans to lay off 5% of its workforce, or around 2,500 people, in a bid to achieve profitability by 2023  —  Indian edtech giant Byju’s said on Wednesday it has eliminated 5% of its workforce, or about 2,500 roles, across multiple departments as it looks to improve …

Manish Singh / TechCrunch:
India’s central bank announces UPI Lite to make transactions below $2.50 faster and simpler on the country’s most popular digital payments network  —  In just six years, UPI has become the most popular way Indians transact online.  The mobile electronics payments system was used …

Kirsten Korosec / TechCrunch:
Sources: autonomous vehicle startup Argo AI, which raised billions in VC funding, is shutting down; top backers Ford and VW will absorb its parts and some staff  —  Argo AI, an autonomous vehicle startup that burst on the scene in 2017 stacked with a $1 billion investment, is shutting down …

Manish Singh / TechCrunch:
Indian edtech startup Unacademy cuts 350 jobs, or 10% of its workforce, in its second round of layoffs this year after cutting 1,000 roles in April 2022  —  Unacademy has eliminated 10% of its workforce, or about 350 roles, in its second round of layoffs this year as the Indian edtech warns of harsh economic conditions.

Manish Singh / TechCrunch:
Byju’s raised $250M in new funding as the market downturn delays its IPO; a source says the valuation was $22B, the same as when it raised $800M in March 2022  —  Byju’s said it has raised $250 million in new funding from existing backers as the Indian edtech giant looks to navigate …

Manish Singh / TechCrunch:
Amazon will shut down its food delivery business in India on December 29, after launching it in May 2020 in Bengaluru, as part of a broader restructuring  —  Amazon will shut down its food delivery business in India by the end of the year, the retailer said Friday, retreating from a vertical it entered less than three years ago.