A classic example of an explosive growth during the pandemic is being witnessed in the EdTech market.
A business that was booming has been catapulted further, thanks to the present pandemic and the start of a new e – learning way of life.
When the EdTech growth started with Educomp in the late nineties, newer companies have emerged to grow exponentially.
Byju’s is a great example.
Let’s look at the funding raised by EdTech Firms this year.
Byju’s raised $1 Billion in four tranches.
UNACADEMY raised $257 Million in two rounds
Vedantu raised $100 Million.
Toppr raised $47 Million this year.
WhiteHat Jr. got sold for $300 Million
The activity in this sector has crossed the $2 Billion mark just this year
The EdTech market is expected to grow from the present $2.8 Billion to more than $10 Billion in the next five years.
The user base is expected to be more than $35 million paid users in the next five years.
More than $1.4 Billion has been invested in this sector in the last nine months.
The firms addressing the K12 education will have the single largest market share at $4.3 Billion.
Coding is the next big wave for children in schools.