Edtech Startup Bluelearn Shuts Operations, Returns 70% of Capital

• Bluelearn, a social learning platform, announced its shutdown due to challenges in scaling the business.
• The three-year-old startup will return 70% of the capital it raised to its investors.
• Bluelearn had raised nearly $4 million from investors including Elevation Capital, Lightspeed, and Titan Capital.
• Co-founder and CEO Harish Uthayakumar cited the difficulty in building a venture-scale business as the reason for the shutdown.
• The startup, which began as a Telegram channel, had over 250,000 members and helped students with internships, jobs, and networking.

Source: Entrackr