Edtech startups: An Emerging sector that is dominating the fundraising in 2020
With the economic crisis due to pandemic, Edtech startups are coming into light as the most profitable startup. Companies like BYJU’S, Unacademy etc are making the most profit in this era on e-learning.
The economic turbulence and recession caused by the invasion of the pandemic in many sectors, did not amplify the market prospect for e-learning and various other edtech solutions in the country. The edtech startups securing $1.4 Bn funding, which makes it the highest among all startup sectors, between the month of January and September 2020 speaks volumes of its efficiency. Aside from the predominance of edtech in fundraising in the current year, the two significant features from the areas were the $300 Mn all-money obtaining of WhiteHat Jr by edtech unicorn BYJU’S and the 2.8x flood in Unacademy’s valuation from $510 Mn in February 2020 to $1.4 Bn in September.
With abundant venture, developing income potential, and addressable base, it’s normal for any business to contribute more towards brand value and that is the situation with the setup edtech new companies in the country.
The Indian Premier League 2020, a gaming startup with Dream11 as the title sponsor has acquired the pinnacle of brand engagement for startups during the previous two months. Other than this, there was an offering battle for different sponsorship open doors for computerized properties and true functions.
The edtech startups are pacing with an alarming rate on their marketing and advertising expenses, the overarching question is who is getting the maximum benefit out of this? In the most recent Inc42 Plus delivery, The Future of Edtech in India: Decoding The $10 Bn Market Opportunity, they partnered with client insight analytics company organization Clootrack to look past the numbers and see the market reaction to edtech promotion crusades.
Post analysis of online conversations of about 90K consumers in the country, which encompasses teachers, students, and parents, the survey portrays that upGrad, an online certification startup that was founded by Mayank Kumar and Ronnie Screwvala, bagged the highest advertising Effectiveness Score. More insights dive deeper into the brand strategy of the highest edtech startups in India enveloping aspects like brand equity score or key category drivers.