Encyclopedia Publisher Britannica Forays Into Indian Edtech Space

How Indian Edtechs Are Getting Another Facelift With GenAI Spreading Its Wings

SUMMARY

Britannica Education’s digital learning solutions in India will cater to teachers, students, and schools

Britannica’s entry into the space comes at a time when the Indian edtech ecosystem is facing an existential crisis and has been grappling with losses, mass layoffs, among other issues

Two edtech startups, Bluelearn and Stoa, have shut shop in 2024 as funding winter continues to rage for the sector

Britannica Education, known for its encyclopedias, has launched 12 digital learning solutions in India that will cater to teachers, students, and schools.

According to a PTI report, the subscription-based tools include Britannica School, Britannica Library, Britannica Professional Learning, and Britannica Connect. With this, Encyclopedia Britannica, founded in 1768, has shifted tracks from its bellwether print offerings and has entered the Indian edtech market.

“Our mission is to inspire curiosity and the joy of learning, providing trusted, verified content that supports both teachers and students,” Britannica Education’s global executive vice-president Sal De Spirito said.

Britannica’s entry into the space comes at a time when the Indian edtech ecosystem is facing an existential crisis. Except for Physics Wallah, most of the startups operating in the sector have suffered since late 2021 on account of growing losses, failure to find product market-fit, mass layoffs and the onslaught from offline coaching chains.

BYJU’S, once the poster child of the edtech ecosystem, is currently undergoing bankruptcy proceedings. Meanwhile Unacademy, once valued at $3.44 Bn, is reportedly in advanced talks to be acquired by offline coaching chain Allen for $800 Mn.

On top of this, the likes of FrontRow, Bluelearn, Stoa, among others, have shut shop in the past three years or have been forced to scale back as funding becomes scarce and losses pile up.

The sole exception Physics Wallah, which has rapidly expanded in the past two years, too slipped into loss in the financial year 2023-24 (FY24), posting a consolidated net loss of INR 1,131.2 Cr. This was an increase of nearly 13.5X from a loss of INR 84.06 Cr in FY23.

According to Inc42 data, Indian edtech startups raised $283 Mn in 2023 as against $2.4 Bn in 2022, down a massive 88%. The number of deals also plummeted 45.91% to 139 in 2023 from 257 in 2022.