Edtech startups attracted over $2.22bn funding in 2020: Report

Indian edtech startups received a total investment of $2.22 billion in 2020 as compared to $553 million in 2019, reflecting the confidence of investors in the segment that has seen a huge surge amid the pandemic, a report by IVCA-PGA Labs said on Thursday.

The report, titled ’The Great ‘Un-Lockdown’: Indian EdTech’, noted that Indian online education companies have raised USD 4 billion in the last five years (2016-2020) with companies like Byju’s, Unacademy and Vedantu accounting for the highest share.

In 2020, 92 players received funding, out of which 61 players received seed funding, the report by Indian Private Equity and Venture Capital Association (IVCA) and PGA Labs, said.

The full article was originally published on The Times of India