Indian edtech startups received over $2.22 billion funding in 2020 as compared to $553 million in 2019

The report states that the Indian subcontinent is one of the largest markets for education with 360 million learners in FY20.

TechSamvad December 22, 2020 16:55:41 IST
Indian edtech startups received over $2.22 billion funding in 2020 as compared to $553 million in 2019

Representational image. Getty Images

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 16 December 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 million, respectively, in 2020, while B2B edtech received a total funding of $31 million in 2017-2020.

(Also Read: Bengaluru-Based Unacademy Raises New Funds From Tiger Global Management And Dragoneer Investment Group)

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 percent of which is spent on primary education and 27 percent on secondary education. Around $42 billion is spent on supplementary education, which primarily comprises private coaching and test preparation.

According to the report, the education market is expected to grow 2 times to $225 billion by FY25 at a CAGR (Compound Annual Growth Rate) of 14 percent over FY20-25.

The education sector has received growing attention from the government with budgetary allocation increasing from $11.3 billion in 2018-19 to $13.2 billion in 2020-21. The report states that India is one of the largest markets for education with 360 million learners in FY20 and is home to some of the largest edtech companies with a global marquee investor base.

Updated Date:

also read

The feminist success of Lijjat Papad: How the venture started by seven women in 1959 employs thousands today
Business

The feminist success of Lijjat Papad: How the venture started by seven women in 1959 employs thousands today

Lijjat's commitment to women's empowerment reflects its inconspicuous beginnings, when seven housewives gathered on a Mumbai rooftop one sunny morning to prepare four packets of papads. They ran the business on a shoestring budget, with annual sales in 1959 amounting to just over Rs 6,000, a fraction of their current revenue.

ED summons Mehbooba Mufti's mother Gulshan Nazir in money laundering case; PDP terms it political vendetta
India

ED summons Mehbooba Mufti's mother Gulshan Nazir in money laundering case; PDP terms it political vendetta

The ED wants to question Nazir in her seventies over a few lakh of rupees that were allegedly transferred to her account from the chief minister's discretionary fund

UPSC defers EPFO (EO/AO) 2020 Exam due to rising COVID-19 cases; no new date announced
India

UPSC defers EPFO (EO/AO) 2020 Exam due to rising COVID-19 cases; no new date announced

The notification says that due to changing circumstances, health advisories issued by the Government of India, and lockdown restrictions, the commission is not in a position to conduct the examination and the interview