Indian Startups Grossed Over $2 Bn Funding This Year: Report

The Indian education sector is a $117 billion market with more than 360 million learners in FY20.  According to a report titled -  The Great Un-Lockdown: Indian Edtech by the Indian Private Equity with Venture Capital Association (IVCA) and PGA Labs, of the $117 billion, $49 billion is spent on school education, of which primary education comprises 66 per cent of the spend, followed by secondary education at 27 per cent. Whereas $ 42 billion is spent on supplementary education, this primarily comprises private coaching and test preparation.

Imposed lockdown due to the spread of COVID-19 has increased the demand for edtech products in India manifold. In response to the growing demand, edtech players have scaled up their offerings and new players with innovative business models catering to unserved segments have emerged post-COVID. Also, the recently introduced National Education Policy 2020 is expected to give a boost to edtech due to the increased focus on concept-based learning for students.