Lido Learning, an Indian edtech startup backed by prominent investors like Ronnie Screwvala, filed for insolvency and bankruptcy in September 2022. This followed the abrupt layoff of approximately 1,200 employees earlier in the year, a move that left many without final salaries. The company, operating in the competitive education technology sector, cited an inability to pay its debts as the reason for initiating the Corporate Insolvency Resolution Process. This event was part of a broader wave of layoffs across Indian startups in 2022, particularly in edtech, as companies faced financial strain after a period of rapid, pandemic-fueled growth.
