<ul><li><keyword id="6251606" type="General" weightage="20" keywordseo="classplus" source="Orion">Classplus</keyword> is among the highest valued Indian <keyword id="2989202" type="General" weightage="20" keywordseo="edtech-startups" source="Orion">edtech startups</keyword> outside of the unicorn club.</li><li>The edtech startup on Tuesday announced its $70 million funding round co-led by Alpha Wave Global and Tiger Global.</li><li>It is a mobile-first SaaS platform that allows educators and content creators to build their online presence.</li><li>The company claims to have more than 100,000 educators and content creators from over 3,000 towns and cities.</li></ul>Classplus — a company that helps educators and content creators launch online classes — is now valued at $600 million. The edtech startup on Tuesday announced its $70 million funding round co-led by Alpha Wave Global and Tiger Global. <br /><br />With this, Classplus is among the highest valued Indian edtech startups outside of the unicorn club. A unicorn is a private company valued at or over a billion dollars.<br /><table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Companies<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Valuation<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Backers<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Scaler Academy<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$710 million<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tiger Global, Sequoia India<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Classplus<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$600 million<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Alpha Wave Global, Tiger Global<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BrightChamps<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$500 million<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Premji Invest, Flipkart’s Binny Bansal<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Teachmint<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$500 million<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Lightspeed, Better Capital<br /><br /></td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source: Company Announcements<br /><br />Abu Dhabi-based Chimera Ventures also joined Classplus’ Series D round, along with existing investor RTP Global. The company plans to use this capital to enhance its product and further expand its global presence.<br /><br />“We’ll be deploying the freshly infused funds to take our product up by notches and expand our presence globally. Going forward, we’ll also be investing in new acquisitions and partnerships that will enable us to continue delivering best-in-class experience to the educators and helping them create an impact in the education system by building bigger and stronger businesses,” Mukul Rustagi, chief executive officer (CEO) and cofounder of Classplus, said.<br /><br />Classplus was founded in 2018 by Bhaswat Agarwal and Mukul Rustagi. It is a mobile-first software-as--a-service (SaaS) platform that allows educators and content creators to build their online presence, digitise their offline tuition centres and sell their courses online. It focuses on both academic and non-academic courses like fitness and lifestyle, personal finance, language training and more.<br /><br />The company claims to have more than 100,000 educators and content creators from over 3,000 towns and cities. Classplus <a href="https://www.businessinsider.in/business/startups/news/teachmint-has-acquired-3-startups-airlearn-teachmore-and-teachee-this-month/articleshow/88560790.cms">competes with Teachmint</a> and Zoho’s<a href="https://www.businessinsider.in/business/news/zoho-is-selling-its-video-calling-app-in-as-many-ways-as-possible/articleshow/88137006.cms"> latest offering TainerCentral</a>.<br /><br />Devendra Agrawal, founder and CEO of Dexter Capital Advisors, in a <a href="https://www.businessinsider.in/business/startups/news/india-now-has-four-edtech-unicorns-byju-unacademy-eruditis-upgrad/articleshow/85300757.cms">previous conversation </a>with Business Insider highlighted that players like Teachmint and Classplus have the potential to be India’s next unicorns.<br /><br /><strong>SEE ALSO</strong><br /><a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/tata-power-icici-bank-aurobindo-pharma-among-stocks-to-watch-out-for-on-march-29/slidelist/90507868.cms">Tata Power, ICICI Bank, Aurobindo Pharma among stocks to watch out for on March 29</a><br /><a href="https://www.businessinsider.in/personal-finance/news/link-pan-with-aadhaar-before-march-31-to-avoid-any-penalty-or-other-consequences/articleshow/90510078.cms" data-type="tilCustomLink">Three days left to link PAN with Aadhaar to avoid any penalty or other consequences</a><br /><a href="https://www.businessinsider.in/tech/apps/news/india-might-be-building-a-super-app-for-its-farmers-combining-weather-market-updates-advisories-and-more-in-one-app/articleshow/90509756.cms">India might be building a super app for its farmers, combining weather, market updates, advisories and more in one app</a><br />

Classplus is now among the highest valued edtech startups outside of the unicorn club

New Indian unicorns get rarer in 2022 as funding winter sets in

<ul><li><strong>MindPeers is a mental strength platform offering therapy sessions, self-help tools, and fun games, among other services to promote <keyword id="6354774" type="General" weightage="80" keywordseo="mental-health" source="Orion">mental health</keyword>. <br /></strong></li><li><strong>Founder Kanika Agarwal started MindPeers after her own experience of battling anxiety and panic attacks. <br /></strong></li><li><strong>MindPeers received an investment of ₹1.06 crore — twice her ask on Shank Tank.</strong></li></ul>It’s no secret that mental health is crucial to our overall well-being and yet, it’s a subject that many Indians are still wary of discussing — or accepting help for. MindPeers, the latest startup to appear on season 2 of <keyword id="11924074" type="General" weightage="100" keywordseo="shark-tank-india" source="Orion">Shark Tank India</keyword>, aims to tackle it with gamification.<br /><br />Founded in 2020 by Kanika Agarwal, MindPeers is a Delhi-based startup that <a href="https://www.linkedin.com/company/mindpeersco/">claims </a>to be ‘Asia's fastest growing mental strength platform’. MindPeers has a proprietary algorithm that checks how important aspects of your life—like career, financial status, relationships—are impacting your brain, the founder claims. <br /><br />“Today, India’s the most depressed country in the world — because we aren’t aware of the importance of mental health in our day-to-day life,” said Agarwal. <br /><br />An AI-powered platform, MindPeers helps book therapy sessions, provides self-help tools, along with in-house neuroscience games, among other services. <br /><br /><cmsannotation type="cmsannotation" annotationid="Learning from the fear of failure" comment="subhead2" text="Learning from the fear of failure"><span data-til="noop">Learning from the fear of failure</span></cmsannotation><br /><br />Originally from Delhi, Agarwal completed her under graduation at the Nanyang Technological University, Singapore. She worked with tech giants like Google and Microsoft before starting her entrepreneurial journey in 2016 with Passion Peers, a digital marketing agency.<br /><br />Passion Peers bagged clients like Marks &amp; Spencer, Unilever etc, and achieved a revenue of nearly ₹90 crore in two years, shared Agarwal. However, during this time, she faced severe anxiety and battled panic attacks — triggered by a constant fear of failure, among other things. <br /><br />“I suffered from anxiety in 2017 because I couldn’t learn how to say no. And the biggest factor was that I was afraid of failure. All of this led to panic attacks,” shared Agarwal on the show. <br /><br />In 2019, Passion Peers was acqui-hired. Acqui-hiring is when a company is acquired for its talent pool (employees) and not necessarily for its products or services. Currently, she has founder equity in the firm but is no longer responsible for its functioning. <br /><br />Later, inspired by her own experience, she started researching mental health, the science behind it and set up MindPeers. <br /><br />Sahil Chitkara joined MindPeers as a co-founder in July 2021 after an investor arranged a meeting between him and Agarwal. Chitkara graduated with a Bachelor’s degree in Computer Engineering from Maharshi Dayanand University, Rohtak, and went on to work for organisations like Urban Company and Classplus before joining MindPeers. <br /><br />Currently, MindPeers has 30,000 monthly active users. Users can also pay ₹350 per month to access certain paid services such as real-time replies from psychologists. Currently, it has six psychologists on payroll and 3,500 paid users. <br /><br />Two months before appearing on the show, MindPeers started selling via B2B channels — and plans to move primarily into the B2B market. Through B2B, MindPeers is catering to organisations where the Human Resource department can use the app to track and improve the employees’ well-being. <br /><br />In October 2022, it achieved sales of ₹16.5 lakh. Around ₹10 lakh from B2C and the remaining from B2B. It’s also expanding into Singapore, the US, and the UK. <br /><br />MindPeers also raised ₹1.12 crore in its first round of funding from an angel investor, at a valuation of ₹33.75 crore.<br /><br /><cmsannotation type="cmsannotation" annotationid="A ‘nudge’ for mental health" comment="subhead2" text="A ‘nudge’ for mental health"><span data-til="noop">A ‘nudge’ for mental health</span></cmsannotation><br /><br />Agarwal made an individual pitch to each investor on Shark Tank, requesting their specific expertise. Though impressed by her ‘marketing’ acumen, she couldn’t win over Anupam Mittal, founder of Shaadi.com. However, he was the only one. <br /><br />Lenskart’s co-founder Peyush Bansal made the first offer of ₹53 lakh for 1% equity — exactly what the founders had requested. This valued the company at ₹53 crore. <br /><br />Sugar Cosmetics’ co-founder Vineeta Singh and Emcure Pharmaceuticals’ executive director Namita Thapar jointly made the same offer, with Thapar claiming they were the better combination. <br /><br />“Let me tell you why Vineeta and I are an unbeatable combination. I have expertise in healthcare and Vineeta knows brand building. You want to expand into B2B. We know in the post-Covid world, it’s required in the B2B world urgently,” shared Thapar. <br /><br />At the same time, boAt co-founder Aman Gupta asked them to introduce ‘nudges’ (contextual text notifications on mobile) with actionable tasks for people, using the available data. When the founders responded that they were already working on a PoC (proof of concept) for this feature, Gupta offered to join Thapar and Singh’s offer — calling them the ‘winning team’. <br /><br />That’s when Bansal said he was open to the founders taking both offers because he wanted a 1% equity stake for himself. The shark trio of Singh, Gupta and Thapar agreed to this. <br /><br />Ultimately, the founders also accepted this offer, walking away ₹1.06 crore for 2% equity. Singh, Gupta, and Thapar to pay ₹53 lakh for 1% jointly; and Bansal would pay ₹53 lakh for 1%. <br /><br /><strong>SEE ALSO: </strong><br /><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/20-year-old-who-learned-machine-design-from-youtube-wins-an-all-panel-deal-on-shark-tank-india/articleshow/97792975.cms">20-year-old who learned machine design from YouTube wins an all-panel deal on Shark Tank India</a><br /><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/shark-tank-fame-recode-studios-raises-funds-in-a-pre-series-a-round/articleshow/97776100.cms">Shark Tank fame Recode Studios raises funds in a pre-series A round</a><br /><br />

An entrepreneur who battled anxiety develops app to gamify mental health

<ul><li>The <keyword id="4534291" type="PERSON" weightage="20" keywordseo="edtech-startup">edtech startup</keyword> will use this funding to further develop their live teaching technology.</li><li>It had raised $16.5 million in its Series A round that closed in May 2021.</li><li><keyword id="9771244" type="UNKNOWN" weightage="20" keywordseo="teachmint">Teachmint</keyword> claims to have a million teachers on its platform from over 5000 cities in India.</li></ul><keyword id="11600718" type="UNKNOWN" weightage="20" keywordseo="live-teaching-platform">Live teaching platform</keyword> Teachmint has raised $20 million in its pre-Series B round led by San Francisco-based <keyword id="4627678" type="PERSON" weightage="20" keywordseo="Learn-Capital">Learn Capital</keyword>, with participation from CM Ventures.<br /><br />The edtech startup will use this funding to further develop their live teaching technology and expand into new geographies. Besides this, the company will also look into enhancement of its product and hiring talent.<br /><br />Teachmint had closed its Series A round in May 2021, with a funding of <a href="https://www.businessinsider.in/business/startups/news/byjus-backer-lightspeed-india-invests-in-a-live-tutoring-platform-teachmint/articleshow/78924152.cms">$16.5 million</a>. The round was led by Learn Capital, with participation from CM Ventures, Lightspeed and Better Capital. Notably, the company’s claims that its valuation has jumped three times in the last two months. The edtech startup has not shared any more details about its valuation.<br /><br />Founded by <keyword id="55119" type="ORGANIZATION" weightage="20" keywordseo="Indian-Institute-of-Technology">Indian Institute of Technology</keyword> (IIT)-Delhi and Bombay alumni Mihir Gupta, Payoj Jain, Divyansh Bordia and Anshuman Kumar in 2020, Teachmint has raised about $40 million to date. The founding team has previously worked with several big brands in the digital space, including OYO, McKinsey, Swiggy and Roposo.<br /><br />Teachmint enables teachers to conduct online classes through a two-way interactive learning solution that allows video sharing and more. The company also offers a tutoring management software-as-a-service (<keyword id="6395918" type="UNKNOWN" weightage="20" keywordseo="SAAS">SaaS</keyword>) to help teachers mark attendance, conduct tests, create virtual classrooms and more.<br /><br />The edtech startup claims to have more than one million teachers on board across over 5000 Indian cities and towns. The solution is available in 10 Indian languages apart from English.<br /><br />The company's other products are focused more on individual teachers. However, it has recently launched an institutional product for schools and colleges. Teachmint for Institutes offers educational institutions a platform to monitor all online classes and institute activities including fee collections, performance assessments and storing lectures.<br /><br />Teachmint’s chief executive Gupta said, “With our platform usage growing 25x [times] over the last quarter, we are becoming the default teaching application in India and the largest live teaching platform globally, outside China. Over the past 1 year, we have brought together some of the top minds in product and engineering to address the big technology-infrastructure gap in teaching and learning through our proprietary platform.”<br /><br />The company competes with another edtech platform ClassPlus, which recently closed a $<a href="https://www.businessinsider.in/business/startups/news/edtech-startup-classplus-raises-65-million-led-by-tiger-global-to-bring-more-tutors-online/articleshow/83810274.cms">65 million</a> round led by Tiger Global. Classplus offers a mobile-first software that allows coaching institutes, tuition centres and private tutors to take their traditionally offline classes online. It claims to serve a user base of 20 million students and 100,000 tutors across 1,500 cities in India.<br /><br /><strong>SEE ALSO<br /></strong><a href="https://www.businessinsider.in/business/corporates/news/tcs-hires-over-20000-in-june-quarter-its-highest-ever-quarterly-addition/articleshow/84240423.cms">TCS has loaded up half a million peeps as it expects many to move on</a><br /><a href="https://www.businessinsider.in/business/startups/news/social-commerce-startup-dealshare-raises-144-million-from-tiger-global/articleshow/84227890.cms">Social commerce startup DealShare raises $144 million from Tiger Global</a><br /><a href="https://www.businessinsider.in/business/startups/news/zomato-ipo-to-open-on-july-14-with-shares-priced-at-72-76-apiece/articleshow/84226269.cms">Zomato IPO to open on July 14 ⁠with shares priced at ₹72-76 apiece</a><br /><br /><br />

Live teaching platform Teachmint raises fresh funding of $20 million after raising over $16 million two months ago

<ul><li><keyword id="10577954" type="UNKNOWN" weightage="20" keywordseo="Triton-EV">Triton EV</keyword> will be opening its new manufacturing facility in the Zahirabad area of <keyword id="68884" type="COMPANY" weightage="20" keywordseo="Telangana">Telangana</keyword></li><li>It is planning to invest about $1.5 billion in this manufacturing facility over the next five years</li><li>Meanwhile, the central government is trying to lure <keyword id="107096" type="COMPANY" weightage="20" keywordseo="Tesla">Tesla</keyword> into manufacturing its EVs in <keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword></li></ul><br />US-based <keyword id="6354973" type="UNKNOWN" weightage="20" keywordseo="electric-vehicles">electric vehicles</keyword> (EV) giant Triton, which competes with <keyword id="6355315" type="UNKNOWN" weightage="20" keywordseo="elon-musk">Elon Musk</keyword>’s Tesla, has signed a memorandum of understanding (MoU) with the government of Telangana to open its state-of-the-art manufacturing facility in the state’s Zahirabad area. <br /><br />This facility, which will be built over a million square feet area, can create close to 24,000 <keyword id="11018" type="COMPANY" weightage="20" keywordseo="Jobs">jobs</keyword> in the state, Triton EV and Telangana government said. Triton EV is planning to invest about $1.5 billion in this manufacturing facility over the next five years, the company said in the statement. The first tranche -- $300 million -- will be infused in the upcoming months.<br /><br />Triton EV’s Chairperson and Managing Director <keyword id="192817" type="PERSON" weightage="20" keywordseo="Himanshu-Patel">Himanshu Patel</keyword> has claimed that they already have $2.2 billion worth of purchase orders from India. Telangana government, too, has given an order of 3000 EVs to Triton. <br /><br /><br />“We are excited to know about Triton EV’s expertise and vision for the EV market… Industrial policy of the state which is proactively crafted towards fast process driven decision making and action towards bringing new investments in the state,” Kalvakuntla Taraka Rama Rao (also known as KTR), Telangana's minister for Municipal Administration &amp; Urban Development, Industries &amp; Commerce, and IT said on the occasion.<br /><br /><br />The manufacturing facility will produce Triton EVs not only for the Indian market, but also for Bangladesh, Sri Lanka, Nepal and the entire Middle East region. Notably, rival Tesla is also <a href="https://www.businessinsider.in/tech/news/elon-musks-tesla-cars-to-set-up-its-production-unit-in-karnataka-says-karnataka-cm/articleshow/80905036.cms">set</a> to make an entry into India this year and plans to set up a research and development (R&amp;D) unit in <keyword id="6354321" type="COMPANY" weightage="20" keywordseo="Bengaluru">Bengaluru</keyword>. <br /><br /><br />Unlike Triton, Tesla will only be focusing on selling in the Indian market and not manufacturing here. However, the Indian government has been trying to attract the Elon Musk-led company into manufacturing in the country by giving subsidies and other benefits.<br /><br /><br />Indian transport minister <keyword id="26680" type="PERSON" weightage="20" keywordseo="Nitin-gadkari">Nitin Gadkari</keyword>, in an<a href="https://www.reuters.com/article/india-tesla-minister-exclusive-idUSKCN2AU1AS"> interview </a>with Reuters, said that India is ready to offer incentives to ensure Tesla’s cost of production remains lower than China if the company committed to start making EVs domestically. <br /><br /><br />Gadkari had previously also stated that Tesla will be starting off by selling in India and would later look into starting assembling in India. Though the date of Tesla’s Indian launch hasn’t been set yet, the company has already started <a href="https://hr.economictimes.indiatimes.com/news/industry/tesla-strengthens-india-team-ahead-of-rolling-electric-cars/82177700">hiring</a> for key roles.<br /><br /><strong>SEE ALSO:</strong><br /><a href="https://www.businessinsider.in/business/startups/news/edtech-startup-classplus-raises-65-million-led-by-tiger-global-to-bring-more-tutors-online/articleshow/83810274.cms">Edtech startup ClassPlus raises $65 million led by Tiger Global to bring more tutors online</a><br /><br /><a href="https://www.businessinsider.in/business/startups/news/zomato-is-seeking-a-8-billion-valuation-in-its-ipo-does-it-make-sense/articleshow/83801848.cms">There are a few reasons why Zomato wants $8 billion valuation from its IPO — here's a look at if it makes sense</a><br /><br /><a href="https://www.businessinsider.in/business/startups/news/edtech-startup-classplus-raises-65-million-led-by-tiger-global-to-bring-more-tutors-online/articleshow/83810274.cms">Edtech startup ClassPlus raises $65 million led by Tiger Global to bring more tutors online</a>

Tesla’s rival Triton to create 24,000 jobs in Telangana with new electric vehicle factory

<ul><br /><li>India has seen three startups turn unicorn and one into a decacorn between January 2020 and August 2021.</li><li>Dexter Capital Advisors's CEO believes that Teachmint, Classplus, Quizziz could make an entry to the unicorn club.</li><li>Indian <keyword id="1464841" type="PERSON" weightage="20" keywordseo="Edtech">edtech</keyword> startups have raised about $4 billion in the same time frame.</li></ul>Education technology or edtech was one of the least funded sectors in India until 2019, but the rise of remote learning during the COVID-ridden 2020 has given a new set of wings to this otherwise ignored segment. <br /><br />From January 2020 to halfway through 2021, India has seen three startups turn unicorn and one into a decacorn. A unicorn — in a startup parlance — is a company valued at above $1 billion and a decacorn is a company valued above $10 billion.<br /><br />A major reason for this series of <keyword id="11853360" type="UNKNOWN" weightage="20" keywordseo="edtech-unicorns">edtech unicorns</keyword> in India has been the greater interest of the investors in the segment. Indian edtech startups have raised about $4 billion since 2020, of which $2.2 billion was raised in 2020 and<a href="https://yourstory.com/2021/08/byjus-unacademy-edtech-sector-funding-2021/amp"> $1.9 billion</a> was raised between January-August 3, 2021. <br /><br />                <div type="image" title="From Byju’s to Eruditus — India now has four edtech unicorns, thanks to a $4 billion funding inflow since 2020" msid="85300875" hostid="261"></div><br /><strong>India’s edtech unicorn revolution to continue<br /></strong><br /><keyword id="2900267" type="PERSON" weightage="20" keywordseo="Byju">Byju</keyword>’s was the first Indian edtech company to turn into a unicorn in 2018. The company is now valued at a whopping $16.5 billion, positioning it as the highest valued Indian startup and the highest valued <keyword id="4534291" type="PERSON" weightage="20" keywordseo="edtech-startup">edtech startup</keyword> across the globe. <br /><br />It took about two years and a pandemic to make <keyword id="6630114" type="UNKNOWN" weightage="20" keywordseo="unacademy">Unacademy</keyword> the second Indian edtech unicorn in September 2020. In 2021, India has found two unicorns in Ronnie Screwvala-led <keyword id="2008319" type="PERSON" weightage="20" keywordseo="Upgrad">upGrad</keyword> and Ashwin Damera-led Eruditus. Meanwhile, kids' live learning platform Vedantu is <a href="https://www.hindustantimes.com/business/vedantu-planning-a-fundraise-not-up-for-sale-founder-and-ceo-vamsi-krishna-101628298041357.html">reportedly</a> all set for its unicorn round and is in talks with investors across the board.<br /><br /><table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Unicorn<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Valuation<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Year<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Byju’s<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$16.5 billion<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2018<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Unacademy<br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$3.4 billion<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2020<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Eruditus <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$3.2 billion<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2021<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">UpGrad<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$1.2 billion<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2021<br /><br /></td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table><br />Devendra Agrawal, founder and CEO of Dexter Capital Advisors told Business Insider as the edtech sector matures, more sectors can be seen progressing in the unicorn directions. “Though, it may take some time as scale wise a number of players are still not that big. The players, which have a good growth momentum definitely have a shot at this coveted slot and in that players like Teachmint, Classplus, Quizziz should lead the pack,” he added.<br /><br /><strong>Edtech startups speculated to sashay their way into India’s unicorn club</strong><br /><br /><table style="border-width: initial; border-style: none;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Startup<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Funding to date<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Key investors<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Teachmint<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$40 million<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Learn Capital, Better Capital, Lightspeed India Partners <br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Classplus<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$60 million<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Falcon Edge Capital, Tiger Global Management, RTP Global, GSV Ventures<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Quizziz<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$47 million<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tiger Global, Nexus Venture Partners, GSV Ventures, Eight Roads Ventures India<br /><br /></td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table><br />Vaibhav Tamrakar, senior vice president at consultancy firm PGA Labs, in an email interaction with Business Insider shared that India’s edtech domain will gain more investor confidence especially after China’s latest regulation that has ordered all school curriculum and live tutoring edtech startups to go non-profit. <br /><br />“India is well-positioned to be the ‘tutor of the world’ with a strong presence of key ingredients including a large market of over 350 million learners, English-speaking population and tutors, and access to capital including both domestic and foreign investors. Edtech players in India had already expanded footprints in the global markets pre-COVID-19,” he added. <br /><br />Sydney-based maths learning platform Matific — which has operations across 60 countries — decided to enter India in 2019. <br /><br />Its chief executive Craig Shotland, talking about why Matific decided to expand to India, told Business Insider, “We see India as a key strategic market driven by factors like robust market potential, strong demand for edtech, and government policies like NEP. But most importantly the passion for education and learning, willingness to adopt technology, and strong affinity to gamified educational content makes it a great place to be right now.”<br /><br /><strong>What led to the rise of Indian edtech<br /></strong><br />Tamrakar of PGA Labs told Business Insider, “While these trends [National Education Policy, accessibility to education and teachers, demand in upskilling and remote learning] were already transforming the market pre-COVID-19, the lockdowns did to edtech what demonetisation did to the fintech sector in India [in 2016] – accelerate these decade-long shifts within a year.”<br /><br />Dexter Capital Advisors’ Agrawal noted that the edtech sector was forgotten till 2015 and the issue was whether the companies operating in this segment could scale up. He added that proven players like Byju’s were able to build investors' trust in the segment and show that India had an appetite for edtech as well.<br /><br /><strong>SEE ALSO<br /></strong><a href="https://www.businessinsider.in/business/startups/news/travel-app-ixigo-files-for-a-1600-crore-ipo/articleshow/85292327.cms" data-type="tilCustomLink">Travel app ixigo files for a ₹1,600 crore IPO</a><br /><a href="https://www.businessinsider.in/business/ecommerce/news/swiggy-reports-nearly-three-fold-increase-in-annual-revenue-in-neck-and-neck-race-with-zomato/articleshow/85233393.cms">Swiggy reports nearly three-fold increase in annual revenue, in neck and neck race with Zomato</a><br /><a href="https://www.businessinsider.in/careers/news/lenskart-aims-to-hire-over-2000-employees-to-ramp-up-its-operations/articleshow/85235059.cms">Lenskart aims to hire over 2000 employees to ramp up its operations</a><br />

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