The surge of e-learning during the pandemic-stricken 2020 has spurred a revival for the edtechs in India. Until 2019, education technology was among the least funded sectors in the country. But today, $2.2 billion being pumped into the Edtech startup sector between January 2020 and mid-2021. This makes edtech one of the hotbeds for investors in India.
The fast-blooming sector has raised about $4 billion since 2020, with three startups turning unicorn, and one into a decacorn (more than $10 billion funding).
Of all the big and small initiatives in edtech, a few names stand out with an outstanding growth curve especially in the field of e-learning app development.
Vedantu is one of the promising and leading names in the Indian edtech sector. It has made a remarkable impression owing to its convenient and tech-savvy online tutoring platform. This edtech startup has garnered a whopping $100 million in series E-round. It has emerged a unicorn among the trending startups in India. Founded in 2011, this popular e-learning marketplace stands apart with its team of professional and skilled tutors who make e-learning simple for the Z-generation.
Born in 2011 in Bengaluru – the lap of all Indian startups – Byju’s is a multinational edtech company offering schooling support online. An early bird from the edtech sector, Byju’s App has set an example in the industry with its robust and state-of-the-art operation digitally. The app provides customized learning for school students – from primer to higher secondary – through high-definition and high-quality video lessons. The app provides highly skilled tutors and mentors who follow up with the learning process, keeping parents in the loop as well.
It can be connoted as the most valuable edtech startup in India with a valuation of $16.5 billion having a total pumping of $3.2 billion.
3. Unacademy
Unacademy is a popular name among the community of aspiring students looking to crack competitive exams in India. The Unacademy app is a one-stop platform catering to your preparation needs for JEE, IIT, CAT, SSC, NEET-UG, State PSCs as well as support for CBSE class 6-10.
With a pumping of $440 million off late, the valuation of Unacademy stands at $3.4 billion. Established in 2015, this budding yet flourishing online education platform in India has been successful in raising undisclosed funding from ace cricketer Sachin Tendulkar.
4. Quizizz
Another student engagement e-learning platform, Quizizz has raised $47 million. Kicked off in 2015, this user-friendly app helps teachers create interactive lessons and gamified quizzes to generate prompt student feedback without any manual grading.
5. Teachmint
This Bangalore-based e-learning teaching platform has joined the wagon recently in 2021 and is in a very nascent stage. What is remarkable is the way the young edtech has managed to gather $20 million within a short while, in the pre-series B round led by Learn Capital with a total valuation of $40 million.
Teachmint is a video and mobile-based app that helps you take classes in just 2 mins within a digital classroom.
6. Upgrad
Founded in 2015, Upgrad has raised a colossal amount of $120 million from the Singapore based Temasek, thus coming up as the first external fund-raised edtech major in India. The application is exemplary in e-learning app development.
From graduation to post-graduation courses, the app caters to college-going students with well-versed educational professionals. And also the opportunity to network with like-minded aspiring professionals. The app also helps in mastering the mind-boggling Kaggle contests all under one roof.
The Indian market has already geared up for the massive growth in the edtech sector. The result is visible from the fact that an astounding launch of over 4,500 start-ups in the country. The current valuation of start-ups in India is around $700 million. This paves the way for an estimated valuation of around $30 billion in the coming decade.
As the education sector is struggling to stand up on its weak legs in a Covid-ridden world, e-learning has already became the norm, adding fodder to the edtech boom. India, having one of the largest higher education networks globally, will soon become the largest foster home for innovative Edtechs. With around 39,000 colleges and more than 1.5 million schools where 260 million students enrolled, the industry is all prepared to go on a steep rise.
Initiatives supported by Government plays and important role in the adoption of e-learning in every parts of the country, even for students from remote areas.
etc are steps towards faster tech-adoption and utilization of e-learning platforms across the nation.
E-learning is the fastest growing startup sector with more startups like Quesst, Tottolearning, Urbanlearning launching their products. To design a cohesive strategy for the way ahead, Edtech in India needs to be addressed from multiple aspects like its access, infrastructure, equity, quality issues and plausible areas of challenges for students and teachers via e-learning product development. It is time to assess its reach, scale and impact to better predict the future and act upon it.
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