BYJU’S, Unacademy grab ~76 pc of edtech funding in 2021
Edtech’s sensational rise in the pandemic is well-documented by now. Last year, online education startups in India raised a record $2.2 billion in funding, with the sector becoming the most funded by deal value for the first time.
The momentum has continued in 2021 too. Between January and August 3, edtech has been among the top three funded sectors in India, raising $1.9 billion across 80 deals, according to YourStory Research.
A majority of these have been equity deals in the B2C learning space, dominated by market leader BYJU’S, which closed four rounds worth $1 billion to become India’s most valuable startup ($16.5 billion); and Unacademy, the only other edtech unicorn whose valuation jumped 70 percent to $3.4 billion after its latest fundraise of $440 million.
In February, Unacademy also raised an undisclosed round from cricket maestro Sachin Tendulkar, who picked up a strategic stake in the firm.
Cumulatively, BYJU’S and Unacademy accounted for a whopping $1.44 billion or nearly 76 percent of the total edtech funding this year.
While the two unicorns continue to hog headlines for their funding (and acquisitions), 2021 has also seen some notable growth-stage (Series B and C rounds), and late-stage deals (Series D and beyond) in edtech.
There have been over 65 early-stage deals (Pre-Series A and Series A) too.
Read all about how the Indian startup ecosystem is battling the second wave of COVID-19 here.
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Kapil Makhija, CEO, Unicommerce Solutions, shares how the company increased its D2C clientele by over 300 percent and expanded into the FMCG and personal care market, creating one of the finest ecommerce supply-chain SaaS solutions, and more.
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Illustration: YS Design
News & Updates
- Nykaa has filed a draft red herring prospectus (DRHP) for its IPO with stock market regulator SEBI. The Nykaa IPO will comprise a fresh issue of shares of up to Rs 525 crore and an offer for sale of up to 4.3 crore shares by existing shareholders.
- upGrad has acquired globally diversified edtech startup KnowledgeHut for an undisclosed sum. Post the acquisition, the Delaware-based startup will operate as a wholly-owned subsidiary of upGrad.
- WhiteHat Jr said it has signed up 500 schools across India, representing more than 1.25 lakh students who will learn coding via the ''physical-digital blended model'' next academic year.
- Online auto classified platform Cartrade said it has fixed a price band of Rs 1,585-1,618 per share for its nearly Rs 2,999 crore initial public offer that opens for subscription next week.
- Gurugram-based healthtech startup Meddo said it acquired Mumbai-based Doxper in a cash and stock deal. With Doxper in its fold, Meddo plans to scale up its branded full suite clinics to over 1000 in the next 12-15 months across the 10 top-tier markets within India.
Before you go, stay inspired with…
Sajith Pai, Director, Blume Ventures
“COVID-19 brought edtech ahead by two to three years. Some early-stage startups got pandemic market-fit. MAUs became DAUs in three months, which is crazy. Capital has come in and capital is chasing the winners. Market leaders are getting a disproportionate premium.”