Scaler to raise $40 Mn at reduced valuation

Scaler, an edtech platform specializing in upskilling, is finalizing a $40 million funding round, marking its first in over three years. The round, led by Lighthouse with participation from existing investors, is expected to close soon. This funding comes at a reduced valuation of $350–$370 million, down from its previous $710 million valuation in 2022. Despite the valuation cut, Scaler has shown growth, with FY24 revenues reaching Rs 384.5 crore, up from Rs 316.7 crore in FY23, and a 58% reduction in losses to Rs 139 crore. The company recently laid off around 150 employees to focus on long-term sustainability.