The Representative

India's Youth News Tank

Pandemic: A bonanza for the EdTech sector

2 min read
edutech

The majority of the sectors of the economy have seen a downfall in the pandemic. But the EdTech sector is growing by leaps and bounds.
It is boom time for EdTech players. They are expanding their footprint in India and plan to set foot in global markets. While companies are on a hiring freeze and have resorted to downsizing, EdTech’s success knows no bounds!

The segment is flush with funds. It has attracted investments of over $1.6B from 2014 to the first half of 2019.

Recent fundraising:
• Byju’s: $122M
• Vedantu: $100M
• Toppr: $47M

Besides pumping in more funds, the top players are expected to induct more than 13,000 people over the next year.
A variety of new products have been included by the online education service providers in their portfolio

Plan to expand headcount:
• Byju’s: 8,000
• Vedantu & Toppr: 1,500 each
• upGrad & Simplilearn: 800
• Great Learning: 500


Jobs offered by the EdTech majors are across fields like technology, content & marketing space. A manifold increase in the registration of online courses has been witnessed amid the pandemic. Leading job portal Naukri.com has reported a four-fold jump in demands for professionals for online, e-learning, and remote roles. More than 1,000 jobs have been added on the platform under the education/teaching category. The six major metros contribute 55% of the jobs.

Growth during the pandemic:
EdTech platform, Vedantu’s customer base has sprung from 25-30% during pre-COVID to 220% in the quarter after lockdown.
Market leader, Byju’s, saw a manifold increase in student registrations. Enrolments were up by 4 times. Three new learning programs – History, Civics & Geography were introduced. The Bengaluru-based firm is in the process of developing a product for the global market to mark a stellar entry.

Toppr joined the bandwagon by launching three new products in the past 2 months. Simplilearn CEO Krishna Kumar stated their strategy of expansion by entering markets of the Middle East, Africa UK, and the Far East.
Higher education platform upGrad observed a 200% growth. By increasing its workforce to 2000+, it aims to meet the growing demands of this sector.
Entry into new markets, hiring more staff, and expanding services is how the Mumbai-based LeverageEdu proposes to grow and prosper.
Pandemic has proven to be a boon for the EdTech industry. The players are gearing up to ace the race.

Do you think the prosperity of the EdTech players will fizzle out soon after the pandemic wave subsides?

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