EdTechReview raises pre-series A funding from EVC Ventures
Delhi-based edtech media and community platform EdTechReview has raised an undisclosed amount of funding in its pre-Series A round from EVC Ventures. The company plans to use this fund to expand its activities in different cities to make the education community stronger on ground.
“For the next six months, we aim to strengthen the community through several niche products, events and conferences in India targeted towards K-12 schools, colleges and universities, education entrepreneurs and investors. We'll focus on providing global edtech players a platform to enter the Indian edtech market,” says Utkarsh Lokesh, CEO and Founder, EdTechReview.
Also Read: How edtech startups are contributing to a changing trend in education in India
On product side, the company is planning to create a global edtech startups listing platform with details on their funding and features to connect to edtech investors. It’s also developing a job portal to support hiring for the fast-growing edtech and e-learning market.
The company’s other expansion plans will focus on organizing niche events across the globe including its flagship events, EdTechReview K12 and Higher Ed Conferences, in India. This year, it plans to bring together over 600 institutions and 50 edtech companies to explore current and emerging trends in education technology.
“We have a deep understanding of the Indian edtech segment. Apart from working with edtech startups and companies in India, we are also working with foreign edtech players which are planning to enter the Indian education market. We would be expanding our team to help such companies with a host of services,” says Utkarsh Lokesh.
He explains that on one side, there are hundreds of edtech startups and companies itching to understand the Indian education system, and on the other hand, there are thousands of educators looking to take their practices to the next level using various technologies. He sees EdTechReview as an organization playing a key role here in bridging this gap between two set of stakeholders.
Related read: Top VC firms show interest in Edtech, 5 startups raise $40 M in funding since April
Launched in 2013, EdTechReview is a media platform that shares resources, news and information solely on the edtech sector. It also works on customized research reports for institutions to help in their technology decision making and for edtech companies and investors to understand the market better.
In the past three years, it claims to have grown into an information platform for educational stakeholders. According to the company, it is engaging and working with over 1000 K-12 and higher education institutions and over 100 edtech startups and companies worldwide.
The company claims to have a niche readership from over 200 countries and territories across the globe majorly from North America, Asia and Europe with over 200,000 visitors a month.
“EdTechReview is building and bringing the education, technology and entrepreneurship community together involving various stakeholders. Our funding will help the platform launch various new initiatives for the education technology community and continue developing niche and innovative events, technology and services for this fast-growing edtech market,” says Anjli Jain, Managing Partner, EVC.
Expanding sector
Utkarsh mentioned that the global edtech market is estimated to be around $121 billion while the Indian edtech sector is roughly around $ 20 billion. He says that the global edtech market is expected to reach at $250 billion by 2020.
Also Read: Six ed-tech startups showcase their businesses at EduThon II
According to research firm Ambient Insight, global ed tech investment had reached $5.3 billion in the first eleven months of 2015.
As EdTechReview claims to offer its services to Asia, Europe and North America, there are other international platforms which the company competes with.
EdSurge, Edtech Magazine and E Campus News are the other media platforms in the edtech segment.