Byju’s and Unacademy have raised the most capital, $2.32 billion and $354 mllion, respectively, in 2020.
Education News: Indian Edtech startups have seen a total investment of $2.22 billion in 2020 as compared to $553 million in 2019, according to Indian Private Equity and Venture Capital Association (IVCA) and PGA Labs data.
The IVCA report ‘The Great Un-Lockdown: Indian Edtech’ released on Thursday stated that 92 players received funding in 2020, out of which 61 players received seed funding.
Byju’s and Unacademy have raised the most capital, $2.32 billion and $354 mllion, respectively, in 2020, while B2B edtech received a total funding of $31 million in 2017-2020.
The report estimates that education is a $117 billion market in India with around 360 million learners in 2019-20. The report further said around $49 billion is spent on school education, 66% of which is spent on primary education and 27% on secondary education. Around $42 billion is spent on supplementary education, which primarily comprises private coaching and test preparation.
The education and edtech market can be divided into 5 segments: pre-K, K-12 and test preparation, higher education, continued learning and B2B edtech.
According to the report, the education market is expected to grow 2x to $225 billion by FY25 at a CAGR of 14 per cent over FY20-25.
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