Indian EdTech soon to witness an unbelievable financial fate as EdTech in India faces legislative impetus.
Apart from pandemic driven acceleration, the Indian EdTech has been growing constantly since 2018. Research suggests this is an outcome of out-of-pocket expenditure on education. However, EdTech ventures emerging from India are demonstrating incredible performance worldwide. Not only because the business models or the entrepreneurial skills are extremely innovative but also due to massive demand owing to the huge population. Almost a turnover of USD 10 Billion is expected from the Indian EdTech industry shortly, as the EdTech valuation remains to be on a rigid scale as well as assented procurement. EdTech in India has a reliable future ahead as the New Education Policy (NEP) has a significant contribution, which necessitates the incorporation of technology skills in the curriculum of school students.
Present EdTech in India
Over nine thousand EdTech startups with 5 unicorn EdTech ventures are ruling the EdTech in India as of the beginning of 2022. The current Indian EdTech valuation is nearly USD 2.8 Billion. Including segments like K-12, test preparation, online certification and skill development, the EdTech industry is expected to aggravate at an impressive scale to USD 10 Billion by 2025. As per findings, this would be further catalyzed by growing smartphone users and internet subscribers.
Enlarging Base of Learners
As a result of lockdown and covid appropriate restrictions, the number of EdTech users has extravagantly increased especially, because students are consuming digital media majorly for education purposes for a variety of reasons. The primary one being schools and universities are operating online. The five Indian EdTech ventures who have become a household name in the last two years have also seen a doubling in traffic at their point of purchase (POP). These EdTech ventures make up for the five unicorns are Byju’s, Unacademy, Toppr, Upgrad, Vendatu. Besides students investing their time saved from academics into new skills, professionals are also embarking on new courses and updated lessons over online platforms to enhance their existing skills. Nevertheless, this has prompted Meta formerly known as Facebook to tap on another profitable market that is digital literacy. By hitting a partnership with CBSE, Facebook is about to launch a project that can impart users about digital wto ell-being and safety.
Investments and Acquisitions
Investments in the Indian EdTech industry have been significantly ever since the pandemic has struck. Further making the EdTech valuation go over some billions of funding received. Notable enough that an USD of 4.04 billion has been spent on Indian EdTech as a whole, of which Byju’s claimed the majority of share followed by Unacademy. Byju’s reportedly acquired various EdTech ventures within and outside the Indian EdTech industry. Propelling the EdTech valuation of India, Byju’s secured EdTech platforms like Toppr, Epic and Great learning besides Aakash educational services. A total of USD 1250 million were invested by Byju’s to achieve the current amount of EdTech valuation that is assumes today. Apart from Byju’s, Doubtnut, Embibe, Testbook.com are some of the EdTech ventures that have raised its funding through the pandemic-lead campaign.
Exclusivity Assured
The EdTech industry is not only preferred for remote education, but also seen as a beneficial addition to the education industry as it has more than just incorporating traditional ways of pedagogy. Value-added courses and individual programs especially meant for emerging skills sought by recruiters. Indian EdTech along with other EdTech ventures across the world are crafting out new services and learning experiences for users unlike earlier. Skill mapping, personalized courses, simulation of real-life experience through games and VR have issued the EdTech industry with an exclusive feature that gives them an advantage over offline learning.