92 edtech startups had mopped up investors’ revenue in 2020.
Investments in the Indian edtech market place led by the likes of Byju’s, Unacademy, Toppr, and so forth., was up 300 per cent in 2020, thanks to the pandemic and the following lockdown that gave the opening edtech market place has been hunting for to break out in terms of investors’ consideration. The segment managed to win $2.22 billion funding in 2020 up from just $553 million in 2019, according to a market place report. Importantly, not just the edtech market place, the hallowed unicorn tally of more than $1 billion valuation private world-wide-web entities in India is also led by Byju’s, following Paytm, valued at $12 billion. More than a dozen startups had been in a position to advantage from the Covid tailwinds to safe investments and even more had cropped up across sub-segments to ride the digital education wave this year.
The education market place, as a entire, was worth $117 billion in India with about 360 million ‘learners’ with major education comprising 66 per cent of the commit followed by 27 per cent coming from secondary education, the report from the Indian Private Equity and Venture Capital Association and PGA Labs, the market place intelligence vertical of Praxis Global Alliance stated. The edtech segment in India is divided into Pre-K, K-12 and test preparation, larger education, continued understanding, and B2B edtech regions. 92 edtech startups had mopped up investors’ revenue in 2020, out of which 61 enterprises got seed quantity. Over the previous 5 years, Byju’s and Unacademy have been on major of the table getting raised $2.32 billion and $354 million respectively.
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“With an increase in focus on self-paced learning, an informed selection of tools/aids on top of better awareness & accessibility, and the idea of continuous learning beyond schools & colleges via professional education courses is driving innovations in the way learning content is being a consumer and delivered in India,” stated Madhur Singhal, Practice Leader, Education, Employment and Entrepreneurship, Praxis Global Alliance. The development in investments in edtech has also come amid the government’s consideration to the education sector that saw budgetary allocation growing from $ 11.3 billion in 2018-19 to $ 13.2 billion in 2020-21 and the launch of the National Education Policy this year, according to the report. The development in the edtech segment also coincided with the deepening world-wide-web penetration in India in particular Tier-III and IV cities and towns. Segments such as on line tutoring and competitive exam preparation have noticed a jump in investments by private equity and venture funds in the previous handful of years.