According to Google, KPMG reports the online education is expected to be a 1.96 Billion dollar market here in India by 2021, But Why?
What is about online education that Indian student and their parents find so attractive? If you are Indian, you probably already know why.
Traditional Education in this country is lacking. According to 2019, National Employability Report for Engineers, 37.7% of Engineers failed to write error-free code compared to only 10.4% of Chinese engineers.
And on top of that 80% of Indian Engineers according to this report are deemed unfit for any job in expanding knowledge economy.
And that what really makes Edtech Startups so exciting. Finally, there are solutions being created to solve the problem that traditional education in this country can't.
Here is the Top 10 Edtech startups in India that is trying to fix India's fractured education ecosystem.
E-Learning Platform for student and working professional. It is started as a platform to coach students for interviews at Tech giants like Facebook, Google, and Amazon.
Recognizing the lack of coding skills among engineering college graduates, they introduced InterviewBit Academy, now called Scaler Academy in April of 2019.
Scaler Academy provides an immersive 6-month training program that helps its student to develop tech skills and also assist them to connect in the right companies.
InterviewBit is particularly interesting because students aren't charged a single penny until they have secured a job with a certain minimum salary.
In other words, they don't get paid until you get paid.
Today more than 4000 students have benefited from the scholar program and this number will continue to increase.
Thanks to the company's investors who have invested 20 million dollars into the edtech startup so far. This investor includes Sequoia Capital, Tiger Global and Global Founders Capital (GFC)
It was founded by IIT Delhi alumni Tanushree Nagori and Aditya Shankar in 2017.
DoubtNut helps students from 6th to 12 grade to clear their doubts by quick and easy solutions to their math problems. To get the solutions to these problems, students can either type their questions in manually or they can upload the picture of their math problem onto to DoubtNut app and let its machine learning algorithms do the rest.
This Edtech startup is empowering students from smaller cities who find it hard to access quality education by enabling the app to read questions in 12 different Indian languages including English.
In less than 3 years, the startup claimed to have obtained 13 million active users 85% of which are from smaller cities.
Seeing the potential of the platform DoubtNut investors have pumped 15 million dollars into the company since 2017. This investor includes Tencent Holdings, Omidyar Network India, CureFit co-founder Ankit Nagori, and Sequoia Capital.
This online exam preparation platform was founded by Shobhit Bhatnagar, Sanjeev Kumar, and Vibhu Bhushan in 2015 to help the students to crack the banking, railways, teaching, and other government job exams.
Gradeup prepares students for their exams by providing access to live interactive classes, detailed solutions, and analysis of test series questions and doubt clearing sessions.
According to the startup, more than 15 million students use their website and app to prepare for jobs.
So far, Gradeup has raised 10 million dollars form Times Internet.
Started by Zishaan Hayath and Hemanth Goteti in 2013, the initial focus of toppr was on the online test preparation market but with the growth of the student population and the need for the quality education they decided to expand their services to offer learning materials for students studying in grade 5th to 12th.
Using their subscription model, toppr offers its students, online classes, live lectures with flexible timings, 24/7 doubt clearing chat sessions with teachers, and mock tests.
In 2016, Toppr has 1 million students on its platform which is grown by 10x in the last three years in reach over 10 million students.
This rapid growth has been fueled by Toppr's investors who have injected 65 million dollars into the company. This investor includes Hellion Venture Partners, 8 Roads Ventures, and Saif Partners.
Focusing on India's higher education, UpGrad was founded by Mayank Kumar, Phalgun Kompalli, and Ravijot Chugh in 2015.
UpGrad has collaborated with leading global universities and industry partners to offers immersive online post-graduation programs to help students learn anywhere at any time.
They started with an entrepreneurship program but now offer courses across domains like data science, machine learning, blockchain, and digital marketing.
In a short period, UpGrad has managed to help more than 350,000 students and professionals and currently has more than 18,000 active paid subscribers.
The startup is also creating a comprehensive online platform for learners by enabling their students to access one-on-one mentoring, peer to peer learning, and industry networking to help them take their careers in the right direction.
Global certification training provider, SimpliLearn was started by Krishna Kumar as a blog, where he teaches his user about the internet and impart his learning from his earlier venture Tech Unified.
However, he soon realized that a lot of professionals using his blog to grow their career and so he decided to turn his online blog into an online learning platform in 2010.
Within 6 months of making this change, the startup was already profitable and had managed to do so without any marketing expense.
Today, SimpliLearn is a leading global player in online certification offering more than 400 certified courses. They already trained over a million professionals while helping them advance their careers.
So far, this edtech startup has raised 31 million dollars from investors like Kalaari Capital, Helion Venture Partners, and Innoven Capital.
An AI-powered customized learning platform, founded by Aditi Avasthi in 2012, which helps students to prepare for competitive exams like NEET, JEE, AIIMS, and BITSAT.
The startup is using technology to help its students ace competitive by using AI to improve the students learning behavior through personalized suggestions and learning plans.
In 2018, Indian conglomerate Reliance Industries acquired Embibe and this acquisition has enabled Embibe to strengthen its technology platform and expand its user base by acquiring edtech startups like onlinetyari and funtoot.
Today, Reliance has invested nearly 200 million dollars into Embibe and is looking to leverage the startup capabilities to connect over 1.9 million schools and 58, 000 universities across India using technology.
Interactive Online tutoring platform, Vedantu was founded by Vamsi Krishna, Anand Prakash, Pulkit Jain, and Saurabh Saxena in 2014.
But before starting Vedantu, the four friends had started their journey as entrepreneurs and teachers way back in 2006 by setting up an offline educational institute called Lakshya.
Through their first education ventures, these young entrepreneurs wanted to spread quality education to the less privileged children in India.
However, they soon realized that offline was inefficient and challenging medium to reach the masses and this conclusion eventually led them to start Vedantu in 2014.
Vedantu now offers live online lectures to students across the country and the world using their technology platform. so far they have managed to empower more than 950, 000 students across 500 cities worldwide.
So far they have raised over 80 million dollars, this investor includes Omidyar Network India, Tiger Global, GGV Capital, and Accel.
Way back in December 2010, Gaurav Munjal started unacademy as a youtube channel.
Over time his educational channel started to gain traction among students, he eventually went on to start another venture called flatchat, all the while posting videos on the channel.
However, things started to pick up when another co-founder Roman Saini joined unacademy and started posting videos to help students prepare for UPSC exams.
Sharing the goal of revolutionizing the Indian education system, Himesh Singh and Sachin Gupta also joined him in his journey.
In 2016, unacademy 1 million dollars in seed funding from bloom ventures and other angel investors. This funding enabled the startup to launched its app.
Today unacademy has over 4 million subscribers on its various youtube channel alone and boasts over 2 million views every single month on its platform.
As of today, unacademy has raised 200 million dollars from its investors and is well on its way to becoming a unicorn.
Finally, The undisputed leader in India's online education space and the only edtech unicorn in the country, Byju.
Byju Raveendran started teaching students to clear their CAT exams with a batch of 35 students and within 6 weeks he was filling out auditoriums with 1200 students.
As he started to focus his attention on school children, he got so popular that to had to start hiring stadiums to accommodate his students. At one point in time, Byju was teaching more than 25,000 students.
Finally, in 2015 Byju decided to start Byju's by launching an app for the students that he had garner been teaching. Thanks to the app, he would no longer have to go from place to place to teach his students.
The company's innovative teaching pedagogy has enabled it to garner over 40 million subscribers, 2.8 million of which are paid subscribers.
Today Byju's is India's third most valued startup after Paytm and OYO, and is the only profitable consumer internet unicorn in the country.
As of today, Byju's has raised 1.4 billion dollars from the likes of General Atlantic, Sequoia Capital, Tiger Global, and Tencent Holdings.