new delhibengaluru another edtech startup udayy backed by info edge has shut shop laying off all 100 employees as schools colleges and physical tuition centres reopenudayys cofounder saumya yadav said that the startup was witnessing the postpandemic world for the first time as as the kids went back to school we faced roadblocks in growing the original model of online live learningafter a lot of deliberation we decided that its better to shut down the business than to spend more time and capital on ita yadav saidthe development was first reported by startup news coverage portal entrackrthe startup has paid employees severance packages and helped them find new jobswe are returning the remaining capital around 85 million back to our investors yadav was quoted as saying in media reportsthe livelearning platform catered to students from grades 1 to 5 the platform raised 25 million in a seed funding round led by alpha wave incubation awi managed by falcon edge capital and infoedge venturesudayy is the second edtech startup after lido learning to completely shut operationsled by the edtech platforms over 8000 startup employees have been recently hit by layoffs in indiathis includes more than 1000 employees at whitehat jr over 600 at unacademy over 424 at vedantu and over 150 at lido learninganother edtech firm frontrow laid off nearly 150 fulltime and contractual employees earlier this weekthe bengalurubased nonacademic upskilling startup fired almost 30 per cent of its workforce owing to fund crunch and the market downturnapart from edtech firms startups that have laid off employees in the past few months include social commerce platforms trell more than 300 and meesho 150 used cars platform cars24 more than 600 and digital health platform mfine more than 500 among others