Edtech funding in the first three months of 2023 tanked a further 93% year-on-year (YoY) to $100 Mn, with the number of deals falling 41% YoY to 17 deals in the first quarter (Q1) of 2023.
According to the Inc42 Edtech Report 2022, the Indian edtech startups raised a total of $2.4 Bn across 95 deals in 2022, enduring a YoY decline of 49% and 42%, respectively.
Emerging segments such as cohort-based courses, teacher tools, 21st-century skills, and edtech SaaS for schools are expected to drive growth in the coming years.
After being hit hard by the funding winter in 2022, the country’s edtech sector, which fosters as many as seven unicorns, is awaiting to breathe a sigh of relief, but to no avail.
This is because edtech funding in the first three months of 2023 tanked a further 93% year-on-year (YoY) to $100 Mn, with the number of deals falling 41% YoY to 17 deals in the first quarter (Q1) of 2023.