What is EdTech?
EdTech is the combination of education and technology refer to hardware and software design to enhance teacher-led learning in the classroom and improve student education outcomes.
Nowadays, students are not only studying in the classroom but also learning online with desktop computers, tablets, smartphones, they interact easily and can learn online from their home.
Many students are not able to easily understand learning in theory, as some of them are more comfortable learning through video lectures. It helps students learn and remember better, and online learning brings a new approach to traditional learning.
Future of the EdTech Industry
In the COVID-19 pandemic, people around the world are facing tough situations, forcing all schools and colleges to shut down. This increase in the growth of e-learning and distance learning across the globe.
There are about 35,000 EdTech startups in the country. India’s EdTech industry had obtained $700 million in funding around the world. According to the report, the online learning industry in 2021 could be valued at $1.96 billion.
Here are some of the best EdTech startups in India.
1. Byju’s
Byju’s was founded by Byju Raveendran and Divya Gokulnath in 2011. The company has provided an online learning platform for the K12 segment students where they can learn via online video lectures and can learn easily through basic theory concepts.
Byju’s have over 40 million user base and more than are 3 million are paid users. Using the Byju Learning App, students can easily learn and be trained for different competitive exams such as IIT- JEE, GATE, IAS, NEET. Byju’s has also introduced App For Kindergarten Student – Byju’s Early Learning App.
Company Valuation: $ 12 Billion
Investor Funding: Byju’s received seed Funding in 2013 from Arina Capital. In 2019, Many investors invest their money in Byju’s like Sequoia Capital India and Lightspeed venture, Chan Zuckerberg Initiative, and many more which generates over $ 785 million in funding. Byju’s also sponsored popular sports like Cricket, Football, and Kabaddi.
2. Unacademy
Unacademy is an Online Educational Technology Company based in Bangalore. It was founded as a YouTube channel that was launched by Gaurav Munjal ,Roman Saini and Hemesh Singh in 2010 and registered as an official company in 2015.
Unacademy is a online learning platform for students to attend live lectures by over a thousand professional educators in 14 different Indian languages. They provide study materials for several entrance exams where people can opt for free or paid memberships.
The Company provides more than 2,000 live class sessions per day.
Students prepare for various examinations by giving a mock test and also begin practice with pdf notes shared by the faculties.
Company Valuation: $ 2 Billion
The Bangalore-based Company, Unacademy acquired many edtech startups including CodeChef, Prepladder, Coursavy, Wifistudy, Mastree, Neostancil. Many Private firms were investing in Unacademy such as General Atlantic, Facebook, Nexus Ventures, and Flipkart.
3. Vedantu
Vedantu was started by four friends Vamsi Krishna, Pulkit Jain, Saurabh Saxena, and Anand Prasad in 2011.
Vedantu is an interactive online tutoring platform where teachers offer students virtual learning lessons of 4 to 12 classes. It offers a unique online learning platform through which students can interact with teachers and can ask their doubts directly from teachers.
The Company also provides preparatory examination courses for IIT students. They also conduct the National Talent Search Test (NTSE) and Problem Solving Assessment (SPA) to explore talent in India. Vedantu also hosts an International Student League(ISL) in 2017.
Company Valuation: $ 600 million
Vedantu has raised over $ 20 million funding from Accel Partner and Tiger Global management in Series A funding and Silicon Valley firm, Omidyar Network in Series B funding. In July 2020, Vedantu raised $ 100 million from US-based Coatue.
In 2015, Praxis Media awarded Vedantu the ‘Most exciting and innovative online learning platform in India’. It also features in the list of Top 100 startups to watch in 2016 by SutraHR.
4. UpGrad
UpGrad is a Mumbai-based Edtech startup founded by Ronnie Screwvala, Mayank Kumar, Ravijot Chugh, and Phalgun Kompalli in 2015.
UpGrad is an online higher education company that offers an online learning platform and an enterprise connected to world-class institutions. It offers a variety of diplomas and certificates in digital marketing, data analytics, and entrepreneurship.
These programs are designed in partnership with leading universities like IIT-Banglore, Cambridge Judge Business School, and many more.
Company Valuation: $ 500 million
Singapore’s Temasek and the World Bank’s International Financial Corporation (IFC) are investing about $100 million in Upgrad.
The Mumbai-based startup, UpGrad has many subsidiaries company such as Acadview Software Pvt. Ltd, the Gate Academy, and Fairmont Technologies Inc.
They also acquired the Bangalore-based coaching institute The Gate Academy and has invested more than $13.7 million (INR 100 Cr).
5. Toppr
Toppr, an Edtech startup in India, was established by Zishaan Hayath and Hemanth Goteti in 2013.
Toppr provides online education to students from class 5 to class 12. They also assist students in preparing for various board examinations and competitive examinations such as JEE, NEET, IMO, CA foundation.
The Company has more than 13 million subscribers and 3 million paid users. It provides a K12 segment Mock Test to develop an exam strategy.
They covers 14 different topics including accounting, social sciences, and so on. They also provide special online classes for students to clarify doubts.
Company Valuation: $ 80 million
The company has raised over INR 350 Cr. in Series D funding by Gulf Based Investment Firm, Foundation Holdings, and investor like Kaizenvest, Brand Capital, Helion Venture Partners are also invested in Toppr.
Toppr claims to use Artificial Intelligence (AI) based machine learning algorithms to customize each learner’s learning journey.
With increased online learning and digital education, people have adopted digital ways of learning and connecting through different online learning platforms.
The EdTech industry is booming as people adopt a new way of learning and will experience exponential growth over the coming year.
