Editorial Team

The year 2020 has been difficult yet promising for the edtech industry. According to Indian Private Equity and Venture Capital Association (IVCA) and PGA Labs data, Indian edtech startups and platforms saw a total investment of $2.22 billion in 2020 as compared to $553 million in 2019. Leading Edtech platforms across the globe raised funds in 2020 amid the Covid pandemic which helped not only in the growth of companies but the education sector overall. Below are a few such leading edtech platforms which raised funding in 2020:

  1. Brainly – The world’s largest online learning platform for students and parents, Brainly, concluded its Series D funding round towards the end of 2020, with a fresh influx of $80M, thereby bringing its total funding up to $150M. The latest funding round was led by U.S.-based Learn Capital and received participation from Prosus Ventures as well as General Catalyst Partners along with the platform’s existing investors including Runa Capital and MantaRay. Brainly intends to utilize the funds to introduce new products for both Indian students and their parents while also augmenting its business footprint across Brazil and Indonesia, two high-growth markets.

  1. Unacademy – An online Indian education platform started in 2015, raised a confidential amount of funding in 2020 from Tiger Global Management and Dragoneer Investment Group taking the company’s valuation to $2 billion. Their latest funding was the third time the company’s fundraising and valuation increased. This Bengaluru-based company’s latest investment comes just two months after they raised $150 million led by SoftBank Vision Fund 2 at a valuation of $1.45 billion.

  1. Vedantu – Edtech platform with the coe strength of conducting live tutoring, Vedantu raises $100M in Series D round led by Coatue at $600M valuation. This fresh round of funding was led by US-based investment firm Coatue along with the participation from existing investors. This is the third time that Vedantu has raised funds during the year 2020 and the total amount has crossed $200 million.

  1. Byju’s – Byju’s emerged to be at the top of the most-funded startups in 2020. The firm was valued at $10.8 billion when it raised $500 million in September from a group of investors including private equity firm Silver Lake Partners along with existing investors General Atlantic, Owl Ventures and Tiger Global. Byju’s secured funds of over $1.25 billion from a slew of VC funds, hedge funds and asset management firms, catapulting its total funding to $12 billion after the last round in November, led by US-based T. Rowe Price and BlackRock.

  1. FrontRow – FrontRow, a learning and community platform focused on creative arts and sports is tapping hobby learning, edtech’s next big thing. The platform raised a seed round of $3.2 million led by venture capital firms Lightspeed and Elevation (formerly SAIF Partners), along with Indian actress Deepika Padukone. The platform will use the $3.2 million funding to add more courses and categories, expand its community offering, and go deeper into various course formats.

Business photo created by katemangostar – www.freepik.com

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