How Classplus is solving education for Tier-II India
B2B edtech startup Classplus, which raised three rounds of funding in 2020, saw its tutor base grow 10X and topline surge 400 percent in the pandemic.
Classplus grew out of Mukul Rustagi and Bhaswat Agarwal's need to solve a pain point that they had experienced while preparing for IIT-JEE entrance exams when their coaching centres closed down. This was the case for educational institutes in most Tier-II cities and beyond where education was still largely offline.
In step with India's digital growth, the founders built a mobile-based SaaS platform in 2018 to help private tutors and coaching centres take their brick-and-mortar set-ups online.
The startup aims to streamline the massive offline coaching market by educators to sell their online courses and content, helping them grow their business.
While the startup catered to half-a-million students and 3,000 tutors in the pre-pandemic times, its growth skyrocketed after the lockdown. In the 12 months since, Classplus’ tutor base grew 10X to cross 100,000 across 1,500 cities serving 12 million students.
This comes as the edtech sector in India saw an investment of $1.8 billion in 2020, according to YourStory Research — being the top three funded sectors in terms of deal volume. The edtech sector in India is poised to reach $12 billion by 2025.
KPMG estimates that there are more than 3,500 edtech startups in India today. Further, the Ministry of Human Resource Development projects that the country’s edtech expenditure would reach $10 trillion by 2030.
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News & Updates
- BYJU'S has announced the global launch of online live one-on-one learning platform, ‘BYJU’S Future School,’ which will be a sub-brand. With this, the WhiteHat Jr and BYJU'S integration comes to the fore.
- Walmart-owned Flipkart has partnered with Mahindra Logistics to accelerate the use of electric vehicles in last-mile delivery and will deploy over 25,000 EVs in the fleet by 2030, according to a regulatory filing.
- The NCLT has admitted a petition for the commencement of corporate insolvency proceedings against OYO Hotels and Homes Pvt Ltd (OHHPL), a subsidiary of OYO Group, on March 30, 2021, over the plea filed by its creditor Rakesh Yadav, YourStory has learnt.
- Alteria Capital announced the close of its Alteria Capital II fund, which has been heavily oversubscribed and has exceeded the target fund of Rs 1000 crore within four months of its launch. The fund now has an AUM of Rs 2300 crore across two venture debt funds.
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"Good content creators stand out. Last year, we saw someone generate lots of money out of their (teachers') content. The monetary power also allows them to re-invest in the quality of content and get a team to build more quality."