Mumbai: Ed-tech is an emerging sector in the startup space in India. With more than half of the population in India are below 25 years of age and growing penetration of internet in India, the online education is one of the compelling sectors. As per simplilearn and technopack study, the market size of online professional education is around $ 2bn in India, which is estimated to grow at 30% to reach at $5.7 bn by 2020. Internet user base will double and reach at 730 mn by 2020 in India as per NASSCOM – Akamai Technologies report. Smartphones penetration is also growing at a rapid pace.
Innovative disruption is set to revamp the current learning and education system. Especially higher education is set to see the changes in line with technological transformation. Considering wide opportunities on the store, startups are leveraging technological innovation and making their presence felt in the Ed-Tech space.
Ed-tech sector is one of emerging sectors that is witnessing investment activities as this sector has seen Venture Capital and Angel Investments. As per the data of Tracxn, a startup intelligence and market research platform, the top five funded Edu-tech startups in India are as followed: Byju’s Classes, Tutorvista, Next Education, Simplilearn, and iProf.
Byju’s Classes (byjus.com), a hybrid test preparation & learning platform based in Bangalore, is India’s top funded Ed-Tech startup. According to Tarcnx, Sequoia Capital, Sofina, Aarin Capital, InnoVen Capital are the principal investors in the startup with cumulative investment amount of $115 mn.
Tutorvista (tutorvista.com), an online tutoring for schools and colleges based in Bangalore, is the second most top funded startup in the Ed-Tech space. Lightspeed Venture Partners, Sequoia Capital, Saama Capital, Westbridge Capital, Silicon Valley Bank, Pearson India, Milliways Ventures have invested in the company.
Next Education (nexteducation.in) based in Bangalore, provides K-12 focused technology based education solutions. Cumulative investment amount stands at $60 million for the startup. Simplilearn, another top funded startup, is based in Bangalore and provides online education and certification programs for professionals. Kalaari, Mayfield, Helion Venture Partners, and India Venture Partners have cumulatively invested $25 million in the company.
iProf (iprofindia.com) offers mobile/tablet based education content and exam preparation solutions, based in Noida. The principal investors include Norwest Venture Partners and IDG Ventures India with cumulative investment amount of $21 million.
It is expected that more startups in the Ed-Tech space will see more funding activities going forward.
Note: For this story, Tracxn, a startup intelligence and market research platform based in Bangalore, has contributed the data on the above startups.