Singapore-based platform Cialfo on Tuesday announced its India headquarters in Uttar Pradesh’s Noida at a time when Indian edtech platforms are struggling for funds, which has led to mass layoffs at many such startups like Vedantu and Unacademy.

The edtech announced that WeWork India’s Berger Delhi One in Noida (UP) would be Cialfo's Indian headquarters from August. "The move is part of a plan to strategically grow operations and invest $20 million in the market over the next five years,” the company said in a statement.

Cialfo said it had close to 250 employees worldwide, 90 of whom work from major metros and tier 2 cities in India already. It wants to have more than 250 staff based here by the end of 2023.

As Indian edtech giants run out of money, Singapore’s Cialfo is looking to make a splash in the country that has 658 million internet users, the second-highest in the world, as per data by Statista.

Cialfo’s job opportunities in India come at a time when edtechs have already laid off more than 3,700 employees in 2022 itself, according to reports.

During the COVID-19 pandemic, when online learning became the only mode of education, edtech showed promise and most of the firms led multiple rounds of funding. But that has now slowed amid economic fears around the world, with many startups left in the lurch.

Recruitment firm Monster India believes India Inc is yet to see the worst of startup layoffs as the ones already fired form a very small proportion of the overall workforce in the ecosystem and the full impact of the funds' crisis is yet to be seen. This is as firms struggle to reduce their cash burn.

In fact, most recently, online education provider Byju’s, India’s most valuable startup, pushed back payments for an approximately $1 billion acquisition struck last year, people familiar with the matter told CNBC-TV18 on Tuesday.

Meanwhile, WhiteHat Jr, owned by Byju's, has laid off 280-300 employees, after over mas resignations in May, according to a Moneycontrol report.

While many edtech platforms are witnessing mass layoffs, cases of mass resignations were also reported with one of the reasons being the return to the office. However, Cialfo has assured its employees of flexibility.

“In line with the hybrid way of working it has adopted since the company’s inception in 2017, the partnership with WeWork will afford the team maximum flexibility as it continues to grow, allowing people to work from WeWork offices across the country,” the Singapore-based firm said.

Also Read: Weeks after mass layoffs, Better.com asks employees to resign ‘voluntarily’

Co-founder Rohan Pasari said, by scaling the team with top local engineering and other talents, the firm has an opportunity to leapfrog the sector and make a massive impact - on students, schools and society at large.

In India, Cialfo said its team’s aim is to help over 65 million high school students in 100+ cities, including smaller towns beyond the major metropolitan areas, to find and enrol in the very best undergraduate programs available to them based on their academic potential, learning style, and career aspirations.