FrontRow, a non-academic upskilling startup based in Bengaluru, is currently considering acquisition deals amidst a challenging funding environment that has impacted startups across the ecosystem. The startup’s co-founder, Ishaan Preet Singh, confirmed the news and stated that FrontRow is in discussions with multiple parties, and a decision will be made in the coming months.
Singh mentioned that the company is exploring various options to determine the best path forward, including whether the market is large enough to sustain an independent player or if it would be better suited within a larger multi-category company. These evaluations will be conducted over the next couple of months.
The move by FrontRow comes after the startup experienced two rounds of layoffs in May and October of the previous year, resulting in the departure of almost 90% of its workforce. Presently, the company only retains 35 employees across multiple teams. As part of a significant cost-cutting initiative, FrontRow has also advised remaining staff members to seek alternative employment opportunities.
Although it was reported that FrontRow had only a few months of runway left, Singh clarified that the startup still has around three years of runway available. He assured that the team has been informed of the situation and that the company is assisting some members in finding other jobs if desired. Singh emphasized that the challenge lies in assessing whether it is feasible to build a large-scale business in a particular market as they continue to gain insights.
FrontRow, founded in 2020 by Singh, Mikhil Raj, and Shubhadit Sharma, initially operated as a learning platform for creative arts, hobbies, and sports during the pandemic when online learning gained significant momentum. The startup attracted attention when it raised $3.2 million in a seed round from Lightspeed India, Elevation Capital, and Deepika Padukone’s family office in November 2020. This was followed by a $14 million Series A round in September 2021, bringing the total funding raised by the edtech startup to $17.1 million.
FrontRow’s evaluation of acquisition deals comes at a time when India’s edtech startups are facing intense competition from both online and offline options. The K-12 and competition preparation segments, in particular, have been significantly impacted. Despite the challenges, the edtech market is expected to reach a $29 billion opportunity by 2030, according to Inc42’s report on India’s edtech opportunity. However, edtech funding has experienced a substantial decline in recent months.
