Indian edtech players attract $2.22 billion investments in 2020

Indian ed-tech startups have received a total investment of $2.22 billion in 2020 alone, compared to $553 million in 2019, according to a report by PGA Labs and Indian Private Equity & Venture Capital Association.

Over 90 ed-tech players have received funding in 2020, out of which 61 players received seed funding. Since their time of inception to December 2020, Byju's and Unacademy have raised $2.32 billion and $354 million respectively, the report highlights.

The report is called ‘The Great ‘Un-Lockdown’: Indian EdTech’ that states the Indian education market is $117 billion with about 360 million learners in financial year 2020. Close to $50 billion is spent on school education, of which primary education comprises 66% of the spend, followed by secondary education at 27%, according to the report.

While over $40 billion is spent on supplementary education, which primarily comprises private coaching and test preparation, according to the report. Education and ed-tech market, according to the report, is divided into 5 segments: Pre-K, K-12 and Test preparation, higher education, continued learning and B2B ed-tech.