Education Employability and Entrepreneurship
Edtech in 2020: Led by Byju’s, Unacademy, investments jump 300%; this many startups raised capital
17 Dec 2020
Investments
in the Indian edtech market led by the likes of Byju’s, Unacademy, Toppr, etc.,
was up 300 per cent in 2020, thanks to the pandemic and the following lockdown
that gave the opening edtech market has been looking for to break out in terms
of investors’ attention. The segment managed to win $2.22 billion funding in
2020 up from just $553 million in 2019, according to a market report.
Importantly, not just the edtech market, the hallowed unicorn tally of over $1
billion valuation private internet entities in India is also led by Byju’s,
following Paytm, valued at $12 billion. More than a dozen startups were able to
benefit from the Covid tailwinds to secure investments and even more had
cropped up across sub-segments to ride the digital education wave this year.
The
education market, as a whole, was worth $117 billion in India with around 360
million ‘learners’ with primary education comprising 66 per cent of the spend
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
intelligence vertical of Praxis Global Alliance said. The edtech segment in
India is divided into Pre-K, K-12 and test preparation, higher education,
continued learning, and B2B edtech areas. 92 edtech startups had mopped up
investors’ money in 2020, out of which 61 businesses got seed amount. Over the
past five years, Byju’s and Unacademy have been on top of the table having
raised $2.32 billion and $354 million respectively.
The full article was originally published on Financial Express