India's Edtech Moment
Technology is upending the traditional ways of teaching and learning. What does the future of education hold?
India’s edtech empire has spread far and wide — bringing under its fold kids and young adults in metros and small towns, as well as the working class that is looking to get up to speed with the latest technologies.
Despite the mushrooming of various startups, edtech startups currently account for a fraction of the $100 Bn education industry in India. Not surprising as with the exception of weddings, the only other expense that excites Indian parents is their children’s education.
With a continuous learning target audience of nearly 600 Mn across the age groups of 10-44 years (2011 Census), India offers a massive opportunity for edtech startups. The Indian market has witnessed the launch of 4,450 edtech startups (1,150+ being shut down), with more coming up every day. As indicated by multiple high-profile funding rounds for the likes of BYJU’s, Vedantu, embibe, Toppr, Testbook, Unacademy and others in the past 3-4 years, investors are more bullish on the edtech market than ever before.
Between 2014 and 2019, a total of $1.8 Bn was raised by edtech startups across 303 deals as per data recorded by DataLabs by Inc42 and presented in its report — The Future Of India’s $2 Bn Edtech Opportunity Report 2020”.