Byju’s is buying Aakash Educational Services for nearly $1 billion, in a bid to enter the test prep space. But will Byju’s succeed and what implications does the deal have for the edtech space?
In 2020, e-commerce and consumer Internet companies raised over $8 billion in private equity and venture capital funding spread over 400 deals, says EY-IVCA India Trend Book 2021 report.
As schools begin to reopen, the big tech revolution enabled by the rise of education technology will transform schools, and they would have to incorporate these as new ways to impart an education.
For the International Women’s Day, we celebrate the 50 women who featured in our Most Powerful Women (MPW) in Business list for the year 2020. Here’s the editor’s letter from that issue.
Armed with tailored strategies along with strong financial backing, companies like Amazon, Byju’s, and Unacademy are fighting to occupy a larger chunk of the edtech space.
Every sector responded to Covid-19 in their own way, and a complex part of this response was seen in the education industry. But it stayed resolute, showing that the desire to learn can't be quenched.
Tracxn data reveals that Bengaluru-based companies attracted the lion’s share (about $944 million) of investments in the edtech space in the last one year, the highest across cities in India.
The Bengaluru-based edtech company will utilise the funds to launch new test preparation and examination categories, create new learning content and product.
The funding takes the valuation of the Bengaluru-based education-tech company, which has over 42 million registered users and 3 million paid subscribers, to $8 billion, say analysts.
