Jeff Maggioncalda tells Anjuli Bhargava how online learning combined with remote working can be a game changer for disadvantaged societies
Zishaan Hayath would rather build his enterprise ground up than go for an acquisition
There was already high growth in the education technology adoption with investment of USD 14.5 billion in 2019
The acquisition will further strengthen Unacademy''s leadership position in the UPSC test preparation market, a statement said
Teamlease Services alone has seen ed-tech companies post more than 20,000 jobs on the job portal in the last three months
With this, Bjyu's, which is currently valued at around $11 billion, has already acquired half a dozen apps in edtech platforms in a bid to become a super app in the edtech space
Online education will be critical in driving this from a supply point of view as offline infrastructure is not enough to cater all alone, he added
Eyes edtech and e-gaming segments apart from core focus areas
Byju's has received investments from Mary Meeker and Yuri Milner, and now from private equity firm Silver Lake, taking valuation close to $11 bn. In an interview, the CEO tells us what all this means
The edtech boom will be driven not just by investors but also by demand from teachers
Existing investors General Atlantic, Sequoia Capital, Nexus Venture Partners, Facebook, and Blume Ventures also participated in the round
Fund will be invested in about 30 start-ups in areas such as health, machine-driven intelligent services, edtech, agritech, and logistics with an average ticket size between $500,000 and $4 million
The edtech firm is doubling down on global expansion in markets such as the Middle East, Africa and the Far East, and expects to cross Rs 500 crore revenues in FY2020-21
However, there has been no change in Byju's valuation after this funding
Unitus Ventures leads investment, other participants include India Quotient and AngelList India
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UpGrad 2.0 will expand focus from professionals to include fresh graduates as it enters a new phase of its own evolution
Investors say most of the edtech companies are seeing 3-5X rise in free audiences and anywhere 50-100% growth in monthly revenues due to Covid
The deal is the biggest in the Indian edtech sector by far
With this round, the Bengaluru-based firm's valuation jumped to $600 million, making it the second most-valued company in the Indian edtech space