Edtech startups attracted over USD 2.22 billion funding in 2020: Report

Indian edtech startups received a total investment of USD 2.22 billion in 2020 as compared to USD 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.

“Indian edtech startups received a total investment of USD 2.22 billion in 2020 alone, compared to USD 553 million in 2019. K-12 and Test Preparation companies accounted for the largest share (USD 1.98 billion), followed by Continued Learning (USD 142 million), Higher Education (USD 84 million), Pre-K (USD 12 million) and B2B Edtech companies (USD 7 million),” it said.