‘EdTech start-ups on a roll, raise funding of $2.2 b in 2020’

Indian EdTech has raised $4 billion in the last five years and, in calendar year 2020 alone, start-ups in the EdTech space received a total investment of $2.2 billion, a new joint report by Indian Private Equity and Venture Capital Association (IVCA), and PGA Labs, the market intelligence business of Praxis Global Alliance (PGA), revealed.

In 2019, EdTech start-ups raised investments of $553 million. As many as 92 players received funding in 2020, of which, 61 players received seed funding, the report showed. BYJU’s and Unacademy raised the most capital, $2.32 billion and $354 million, respectively, in 2020. B2B EdTech received total funding of $31 million in 2017-20.

Rajat Tandon, President, IVCA, said: “EdTech is one sector that goes in sync with the Moore’s Law, with the advancing tech, Education Technologies in India have become a change maker. Whereas, these are testing times for so many entrepreneurs globally, EdTech in India has emerged a clear winner. This report also projects how new unicorns are being presented globally, putting India yet again on the globe in regards to tech, innovation and digital consumption.”
The full article was originally published on The Hindu Business Line