India is the New Edtech Capital of the World
All through the year our entire country was compelled to stay indoors, along with the rest of the world. As a consequence schools and other educational institutions remained shut and are still far away from being fully functional anytime soon. Logically an entire population woke up to the vitality of amalgamating learning with digital platforms. Thus, the edtech sector witnessed an unprecedented boom. Right from increased investment activity to more and more end users coming onboard as paying subscribers, the industry saw it all.
A recent report by Indian Private Equity and Venture Capital Association (IVCA) said that as compared to $522 million invested in the edtech sector in 2019, 2020 saw a whopping $2.2 billion being invested in the sector. Byju's alone received over $1 billion in investment throughout the year which was historic in its own way. Additionally, there were various other startups that saw increased customer onboarding. According to the Indian HRD ministry, India's edtech expenditure is slated to reach $10 trillion by 2030.
The sector currently is home to over 3500 edtech startups as estimated by KPMG. A majority of these startups have been catering to the K-12 segment. Till a few years back edtech for K-12 was largely centered around smart classes, but with the pandemic induced lockdown, over 1.5 million Indian schools are shut. There has been a massive spike in number of young students logging online to address their learning requirements. This sector has seen a plethora of innovative startups setting up shop that include adaptive learning platforms, learning management systems, localized language learning solutions, smart classroom solutions and collaborative platforms among others.
Additionally the post K-12 segment has also witnessed a northward trend in terms of number of users. According to a RedSeer and Omidyar Network India report the said user base doubled from 45 million to 90 million in 2020. With a host of international students also preferring Indian edtech platforms, the user base is only going to increase in the years to come.
In the opportune time, StartupCity presents to you a list of `10 Best Edtech Startups' from across India. The issue highlights the innovative products and solutions created by these young startups.
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