Indian edtech startups see investment of $2.22 bn in 2020, shows data

Indian edtech startups have seen a total investment of $2.22 billion in 2020 as compared to $553 million in 2019, according to Indian Private Equity and Venture Capital Association (IVCA) and PGA Labs data.

The IVCA report ‘The Great Un-Lockdown: Indian Edtech’ released on Thursday stated that 92 players received funding in 2020, out of which 61 players received seed funding.

Byju’s and Unacademy have raised the most capital, $2.32 billion and $354 mllion, respectively, in 2020, while B2B edtech received a total funding of $31 million in 2017-2020.

The report estimates that education is a $117 billion market in India with around 360 million learners in 2019-20. The report further said around $49 billion is spent on school education, 66% of which is spent on primary education and 27% on secondary education. Around $42 billion is spent on supplementary education, which primarily comprises private coaching and test preparation.

The education and edtech market can be divided into 5 segments: pre-K, K-12 and test preparation, higher education, continued learning and B2B edtech.

The full article was originally published on Business Standard