Top ed-tech acquisitions and fundings are boosting the education sector in this pandemic situation
The massive increase in ed-tech users as a result of the current epidemic has given the sector a huge boost in India, where it is expected to grow at a CAGR of 52% to become a US$1.96 billion-dollar business by 2021. The ed-tech business is seeing rapid expansion. Not only is its current situation improving, but it also appears that its future is brightening, with fresh opportunities opening up for the industry’s pioneers. The ed-tech sector has become very receptive to all types of agreements, including mergers, acquisitions, joint ventures, and new start-ups, as a result of the industry’s fast emergence. To illustrate the ed-tech industry’s expansion frenzy, the followings are a roundup of several top ed-tech acquisitions and ed-tech fundings in 2021.
Top Ed-tech Acquisitions in 2021:
Byju’s acquired Whodat and Great Learning:
Byju’s, a prominent ed-tech company, has been on a buying frenzy in 2021. The Bengaluru-based business, which has a $16.5 billion value and is India’s most valuable unicorn startup, recently acquired Singapore-based Great Learning in July 2021 and Bengaluru-based augmented reality startup Whodat in August 2021. Byju’s also purchased Toppr and Akash educational services earlier this year.
Imarticus Learning acquired Eckovation:
Imarticus Learning, India’s leading professional education business, recently acquired Eckovation, a fast-growing social learning platform, in a significant move in July, 2021. This is Imarticus Learning’s first purchase, and it signals the company’s entry into futuristic skill education programs in partnership with India’s IITs and premier tech institutes. With this ed-tech acquisition, Imarticus Learning is making a conscious effort to offer something back to society through Eckovation’s social learning and a variety of free e-learning programs.
UpGrad acquired KnowledgeHut:
This is one of the top ed-tech cqauisitions. UpGrad, an ed-tech platform located in Bengaluru, has announced the acquisition of KnowledgeHut in August, 2021, in order to expand into foreign markets and enter the lucrative short-term skilling courses sector. UpGrad is entering the short-term upskilling and reskilling industry, which it estimates has a market potential of over US$58 billion, with this transaction. UpGrad will be able to enter worldwide markets as a result of this move. KnowledgeHut’s worldwide base of 250K learners will be available to the Mumbai-based ed-tech firm.
Unacademy acquired TapChief:
TapChief, an online platform that enables professionals make money without working full-time, was acquired by Unacademy in February, 2021. Unacademy Pro, a platform that helps you become a “Pro and get your dream job,” will be built as a result of this ed-tech acquisition. It has just bought Rheo TV, a live game streaming site. Unacademy, located in Bengaluru, would fully purchase Rheo TV as part of the agreement, allowing all existing investors to leave. This is also one of the top ed-tech acquisitions.
Top AI Fundings in 2021:
Ed-tech startups raised a total of US$2.2 billion in 2020, up from US$553 million in 2019. Because of the widespread use of technology in schools, universities, and other academic institutions, this ed-tech funding trend will continue to be a prominent topic in 2021. We shall discuss a list of top ed-tech financing and investments in 2021 in this post.
BetterUp is a technology business that offers professionals one-on-one tutoring. BetterUp has raised a total ed-tech funding of US$269.8 million via five financing rounds in February 2021. Salesforce Ventures, Threshold, and Lightspeed Venture Partners were among the seven investors that contributed to the startup’s most recent Series D investment round, which closed in February 2021.
Byju’s, a Bangalore-based business, was started by current CEO Byju Ravendran and Divya Gokulnath in 2011. BYJU’S has raised a total of US$2.1 billion in investment across 17 rounds in August, 2021, making it a unicorn in the IT industry. The business is still looking for top ed-tech fundings as the pandemic’s use skyrockets.
Cluey Learning is an online platform that provides one-on-one tutoring and tutoring programs to kids in grades K through 12. CPO and Founder Michael Allara started the Sydney-based firm in 2017. The business has received ed-tech funding of approximately US$14.8 million in investment in January, 2021.
Unacademy, an Indian company, is an online learning platform that provides students with educational information such as live daily courses, video lectures, mock exams, and lecture notes. Over the course of nine rounds of fundraising, Unacademy has raised ed-tech funding of a total of US$348.5 million in January, 2021. On November 25, 2020, the business received its most recent investment from Tiger Global, and it is now valued at US$2 billion, up from about US$500 million in February of the same year.
Vedantu is an online e-learning platform based in India that provides students with real-time classes, coaching, and tailored learning content. Vedantu has raised a total ed-tech funding of US$190.9 million in nine rounds of financing in June, 2021.