Jakarta. Edutech startup Zenius has declared a temporary shutdown of its operations after two decades in business. In an official statement, Zenius attributed the decision to operational challenges.

"Zenius is currently facing operational challenges, and we deeply regret any inconvenience this may cause to our users," the company said in a statement on Thursday.

The company said that since its establishment in 2004, Zenius has helped millions of students pursue admission to their desired state universities.

"We are taking strategic steps to halt operations temporarily, but we assure you that we will not stop striving to execute and realize the vision of shaping an intelligent, bright, and enjoyable Indonesia," it said.

The company has not provided a timeline for the unavailability of its services, and there is no indication of the fate of its employees. 

Over the past two years, the company experienced three rounds of workforce reductions. The first round of layoffs affected over 200 employees in May 2022, followed by a second round in August 2022, and a third in February 2023.

Zenius provides educational access through online video formats via its website and mobile applications. In early 2022, Zenius acquired Primagama, a private tutoring institution that provides supplementary education services to students. As of December 2022, the platform has amassed more than 16 million users.

Zenius has received support from various investors, including Telkom's MDI Ventures, Patrick Walujo's Northstar Group, Alpha JWC, Openspace Ventures, and Beacon Venture Capital.

In March 2022, Zenius announced its latest funding from MDI Ventures, bringing the company's total funding since its establishment to $ 40 million (Rp 622 billion).