<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. 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. <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 </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 </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 </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 </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 </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 </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 </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 </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 </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 </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 </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 </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 </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 </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 </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source: Company Announcements 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. “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. 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. 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>. 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. SEE ALSO <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> <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> <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>

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

<ul><li>This is the fourth round of funding raised by the Delhi NCR-based startup in the last 15 months.</li><li><keyword id="6251606" type="UNKNOWN" weightage="20" keywordseo="classplus">Classplus</keyword> was founded in 2018 and helps tutors take their traditional classes online.</li><li>It has close to 100,000 tutors on its platform, teaching 20 million students across 1,500 cities in <keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword>.</li></ul>Edtech startup Classplus, which helps tutors go online, has raised $65 million in Series C funding round led by US-based <keyword id="526777" type="COMPANY" weightage="20" keywordseo="Tiger-Global">Tiger Global</keyword>. This is the fourth round of funding raised by the Delhi NCR-based startup in the last 15 months. GSV Ventures, along with existing investors Alpha Wave Incubation (AWI), Blume Ventures and RTP Global also participated in the Series C round. Overall, Classplus has raised over $85 million in funding to date, from investors like Sequoia Capital’s accelerator programme Surge, Times Internet and former cricketer <keyword id="6359039" type="PERSON" weightage="20" keywordseo="sourav-ganguly">Sourav Ganguly</keyword>. Classplus offers a mobile-first software that allows coaching institutes, tuition centres and private tutors to take their traditionally offline classes online. The company claims to serve a user base of 20 million students and 100,000 tutors across 1,500 cities in India. About 80% of the educators on the platform are from Tier-2 and beyond regions. “A typical educator is able to grow its student base from 100 to 1200 students within 8-10 months of using Classplus. The platform has seen massive success stories of educators generating 5x [five times] of their usual incomes within a year of starting up,” the company claimed in its press note. It also claims to help tutors increase their profitability by 2 times to 3 times within 6 months of using the platform. The company’s software solutions allow tutors to run their coaching, communication, assessments, payments, and student engagement programmes through their mobile solutions. Classplus was founded in 2018 by Mukul Rustagi and Bhaswat Agarwal. The company’s chief executive (CEO) and cofounder Rustagi said, “We are on a mission to ensure that every educator can go online and connect with their students across the world. The power of educators has historically been confined to their local neighbourhoods.” The company intends to use their capital raise to build on their product capabilities, grow geographically and expand their engineering team. The company will be hiring aggressively across engineering, product and business roles. Classplus competes with Bengaluru-based edtech startup Teachmint, which also enables teachers to conduct online classes through two-way interactive learning solutions with video sharing and more. The platform was<a href="https://www.businessinsider.in/business/startups/news/byjus-backer-lightspeed-india-invests-in-a-live-tutoring-platform-teachmint/articleshow/78924152.cms"> founded in 2020</a> and has raised $20 million to date from marquee investors like Better Capital, Lightspeed India Partners, Learn Capital and more. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/upside-ai-raises-1-2-million-in-seed-funding-to-help-indians-invest/articleshow/83713098.cms" data-type="tilCustomLink">Personal investment platform Upside AI raises $1.2 million in seed funding to help Indians make money</a> <a href="https://www.businessinsider.in/business/startups/news/james-murdoch-plans-to-raise-150-million-from-ultra-rich-to-invest-in-indian-startups/articleshow/83709567.cms" data-type="tilCustomLink">James Murdoch plans to raise $150 million from ultra rich to invest in Indian startups</a> <a href="https://www.businessinsider.in/business/startups/news/sharechat-around-200-existing-and-former-employees-will-be-eligible-to-participate-in-the-esop-buyback-plan/articleshow/83638787.cms" data-type="tilCustomLink">Sharechat employees will make $19 million out of the latest ESOP plan, as growth spikes in the absence of TikTok</a><h1 style="margin-bottom: 10px; padding-bottom: 15px; border-bottom: 1px solid rgb(238, 238, 238); font-variant-numeric: normal; font-variant-east-asian: normal; font-stretch: normal; font-size: 1.6rem; line-height: 1.2em; font-family: LabGrotesque-Black, Helvetica, Arial, sans-serif; vertical-align: baseline; color: rgb(17, 21, 22); background-color: rgb(255, 255, 255);"></h1>

Edtech startup Classplus raises $65 million led by Tiger Global to bring more tutors online

Ending all speculations after sending a cryptic tweet, <keyword id="6354756" type="General" weightage="50" keywordseo="bcci" source="Orion">BCCI</keyword> President <keyword id="6359039" type="General" weightage="80" keywordseo="sourav-ganguly" source="Orion">Sourav Ganguly</keyword> on Thursday joined hands with Noida-based <keyword id="1464841" type="General" weightage="50" keywordseo="edtech" source="Orion">edtech</keyword> startup Classplus to promote thousands of educators and content creators. <keyword id="6505" type="General" weightage="100" keywordseo="ganguly" source="Orion">Ganguly</keyword> also took to social media to announce this initiative, upon completing 30 years in Indian cricket. In the 30-second clip, Ganguly is heard saying, "The first step towards achieving your dreams is having the right coach." Classplus has claimed to have digitised over one lakh educators and content creators across more than 3,000 cities serving 30 million students, assisting them in building their online presence and selling their online courses. "With Dada (Ganguly) himself by their side, we hope to help these edupreneurs further grow their reach and take their business to newer heights," said <keyword id="3952423" type="General" weightage="50" keywordseo="mukul-rustagi" source="Orion">Mukul Rustagi</keyword>, CEO and Co-Founder, Classplus. The startup recently bagged $70 million in a Series D funding round, co-led by Alpha Wave Global and Tiger Global and is currently valued at close to $600 million. Classplus helps educators and content creators launch and scale their online coaching business. Since its inception in 2018, the startup has raised approximately $160 million from global investors like Tiger Global, AWI, <keyword id="7560809" type="General" weightage="50" keywordseo="rtp-global" source="Orion">RTP Global</keyword>, Blume Ventures, Sequoia Capital India's Surge, Spiral Ventures, Strive, Times Internet and Abu Dhabi-based Chimera Ventures. On Wednesday, after sparking speculations of a possible political debut with a cryptic tweet, Ganguly sought to dispel the rumours and clarify on his next venture. After a few hours of leaving people guessing, Ganguly himself made it clear late that it is not politics, but an educational app that will be his new venture. However, his Twitter message had enough ingredients to give rise to speculations that he might be ending his cricketing innings and making debut in politics.

BCCI President Sourav Ganguly joins hands with edtech startup 'Classplus'

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

<ul><li><keyword id="15583299" type="General" weightage="100" keywordseo="classlogic" source="Orion">Classlogic</keyword> has 100+ education institutes as partners in <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword>.</li><li>The latest round of funding will be used to scale technology and increase the presence of the company.</li><li>It has the combined functionality of classroom management solutions, learning management solutions, <keyword id="162218" type="General" weightage="50" keywordseo="erp" source="Orion">ERP</keyword>, fee management, marketing tools. </li></ul> Pune-based <keyword id="1464841" type="General" weightage="50" keywordseo="edtech" source="Orion">Edtech</keyword> startup Classlogic, the most affordable online teaching cum classroom management app for Educators and Educational Institutes, has raised seed funding of $100k from Mumbai <keyword id="15583301" type="General" weightage="50" keywordseo="based-angel-investors" source="Orion">Based Angel Investors</keyword>. The latest round of funding will be used to scale technology and increase the presence of the company across India. Classlogic is an integrated platform for educators to teach online, as well as manage physical and hybrid classrooms. It has the combined functionality of classroom management solutions, learning management solutions, ERP, fee management, marketing tools, etc. " In the Ed-tech SaaS segment, the startup competes with Teachmint, Classplus, Winuall, etc. Ed-tech players. According to a report, the Indian SaaS industry, which stood at USD 3.5 Bn in 2020, is projected to grow into a USD 15 Bn market by 2026. Classlogic is an integrated app that can help users get rid of multiple ed-tech apps or solutions and switch to one integrated app for an institute that provides all essential features", says <keyword id="241904" type="General" weightage="50" keywordseo="anoop-mishra" source="Orion">Anoop Mishra</keyword>, co-founder of Classlogic. He further adds, "Teachers' job is the toughest job till the time they do everything apart from teaching, it could be much easier and inspiring for teachers if they can hand over their non-teaching task to someone else". <keyword id="15583300" type="General" weightage="50" keywordseo="vineith-kaul" source="Orion">Vineith Kaul</keyword>, a tech guy and co-founder of Classlogic added, "Nowadays, building technology is not a big deal, but building it at low cost and offering it to users at the most optimal cost is the challenge that we have cracked." Anoop Mishra and Vineith Kaul founded Classlogic in 2021, with their extensive experience in education. Anoop has brought his teaching, academic, and institute management experience whereas Vineet put his computer expertise to lead the vision of democratizing technology for educators. Classlogic is a powerful, mobile first and end-to-end solution for institute management and LMS but easy to use so anyone even without technical expertise can manage an entire institute and classroom using just the Classlogic mobile App. It has features such as automatic attendance &amp; leaves, timetables, homework, assessment, fees management, etc. Classlogic has 100+ education institutes as partners in India and the latest round of funding will enable the onboarding of 1000+ institutes in multiple cities in India. India has over 7 lakh coaching institutes, showing tremendous opportunities for ed-tech solutions. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/matter-ev-motorcycle-vs-revolt-rv400-eclectic-bike-price-features-range-and-more-compared-here/slidelist/95677246.cms">India’s first liquid-cooled e-bike Matter EV vs Revolt RV400: price, range, specs &amp; more</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/kaynes-technology-debuts-at-32-premium-on-exchanges-tops-grey-market-expectations/articleshow/95675099.cms">Kaynes Technology debuts at 32% premium on exchanges, tops grey market expectations</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/tiktok-plans-to-hire-3000-engineers/articleshow/95674604.cms">TikTok plans to hire 3,000 engineers</a>

Edtech startup Classlogic raises USD 100K in seed funding round

<ul> <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. 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. 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. <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> India’s edtech unicorn revolution to continue <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. 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. <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 </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 </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 </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 </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 </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 </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 </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 </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 </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 </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 </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 </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 </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 </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 </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> 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. Edtech startups speculated to sashay their way into India’s unicorn club <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 </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 </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 </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 </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 </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 </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 </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 </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 </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 </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 </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 </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> 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. “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. Sydney-based maths learning platform Matific — which has operations across 60 countries — decided to enter India in 2019. 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.” What led to the rise of Indian edtech 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.” 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. SEE ALSO <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> <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> <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>

From Byju’s to Eruditus — India now has four edtech unicorns, thanks to a $4 billion fund flowing in since 2020

<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. 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. 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. 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. 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. 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. 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. 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.” 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. SEE ALSO <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> <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> <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>

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

14 Indian edtech startups raised funds amid the COVID-19 pandemic⁠

New Delhi, Feb 19 () Homegrown early-stage venture capital firm, Blume Ventures on Wednesday announced the final close of Blume Ventures Fund III at USD 102 million (about Rs 730 crore). After a first close in late 2018, the final close was completed in December 2019, a statement said. Blume started in 2011 raising an entirely domestic Rs 100 crore fund from HNIs (high net-worth individuals) and subsequently raised a USD 60 million fund (Rs 400 crore) in 2016. It claimed that its the first entirely homegrown fund to raise a third fund and raise over USD 100 million in a single fund. "Blume's newest fund will continue to back early stage startups focusing on the two distinct opportunity sets that India offers, opportunities that leverage the mobile-led explosion of the Indian digital-first economy and Indian engineering and science translated to global market opportunities," it added. The fund III portfolio already includes more than 10 investments including HealthAssure (healthcare), Taaraka, Stage3 (consumer), Jai Kisan, TartanSense, Procol (agri), Classplus, Tapchief and LeverageEdu (edu-tech). Through Fund I and II, Blume had invested in companies like Unacademy, Grey Orange, Spinny, Turtlemint, Dunzo, Healthifyme, Purplle, Railyatri (IntrCity) and others. "We are very proud of our founders and team who have delivered outstanding performance over the last three years, thereby strengthening the Blume brand and track record immensely," Karthik Reddy, co-founder and managing partner at Blume Ventures said. SR SHWSHW

Blume Ventures announces final close of Fund III at $102 mn

As VC money disappears amid economic slowdown, tech startups have laid off over 20,000 employees the world over since April, while more than 8,000 employees have lost jobs at the Indian startups led by <keyword id="1464841" type="General" weightage="20" keywordseo="edtech" source="Orion">edtech</keyword> platforms. According to layoff aggregator <keyword id="6357067" type="General" weightage="80" keywordseo="layoffs" source="Orion">Layoffs</keyword>.fyi at least 20,514 people have lost their jobs at tech startups globally since April globally and the US is leading the race. The number doubled over the past two weeks, indicating that the labour market for the sector has taken a turn for the worse, reports Nikkei Asia. Ironically, this figure does not take contractual workers into accounts which have lost their jobs in the startup funding winter. The job loss has reached two-year high among the startup ecosystem that once churned out unicorns after unicorns. More than 15,000 people working in the technology sector lost their job in the month of May alone, as global macro-economic factors hit companies, especially startups. According to layoff aggregator layoffs.fyi, more than 15,000 tech workers have lost their jobs this month, reports TechCrunch. Since March 2020 when the Covid-19 pandemic started, more than 1.3 lakh employees have been laid off by around 718 startups globally. Tech companies are facing multiple issues like rising inflation, high interest rates, economic slowdown and the Russia-Ukraine war. The situation is set to get worse with recession looming and funding drying up. Several large investment firms like Sequoia Capital, Lightspeed Venture Partners, Craft Ventures, and Y Combinator etc have sent memos and footnotes to their portfolio companies and startups on how to endure the ongoing crisis. The VC firms are advising startups to focus on sustainable growth, reduce cash burn, cut costs and understand that an economic recovery may be 18-24 months away. With capital becoming scarce, Sequoia Capital told its founders' community to tighten the belt and focus on profitability. Realising that 'funding winter' has finally set in after a strong rally of more than two years in the pandemic that allowed Internet-driven startups to grow exponentially across the spectrum, large investment firms are now parking their funds in Blockchain/Web3.0 and gaming-based startups. <keyword id="8918130" type="General" weightage="80" keywordseo="binance-labs" source="Orion">Binance Labs</keyword>, the venture capital and incubation arm of leading cryptocurrency exchange Binance, has announced the closing of a $500 million investment fund to boost Blockchain, Web3.0 and value-building technologies. The new fund will invest in projects that can extend the use cases of cryptocurrencies and drive the adoption of Web3.0 and Blockchain technologies. Earlier, US-based investment firm Andreessen Horowitz (A16Z) announced two new funds -- a massive $4.5 billion fund for crypto and Blockchain companies and Web3.0 startups and a $600 million 'Games Fund One' that is exclusively focused on the gaming industry. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/space/news/jeff-bezos-blue-origin-to-launch-its-fifth-tourist-flight-to-space-on-june-4/articleshow/91956366.cms">Jeff Bezos' Blue Origin to launch its fifth tourist flight to space on June 4</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/business/news/bcci-president-sourav-ganguly-joins-hands-with-edtech-startup-classplus/articleshow/91961705.cms">BCCI President Sourav Ganguly joins hands with edtech startup 'Classplus'</a>

Tech startups lay off over 20k employees amid economic slowdown and Russia-Ukraine war: report

<ul><li>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>. </li><li>Founder Kanika Agarwal started MindPeers after her own experience of battling anxiety and panic attacks. </li><li>MindPeers received an investment of ₹1.06 crore — twice her ask on Shank Tank.</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. 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. “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. An AI-powered platform, MindPeers helps book therapy sessions, provides self-help tools, along with in-house neuroscience games, among other services. <cmsannotation type="cmsannotation" annotationid="Learning from the fear of failure" comment="subhead2" text="Learning from the fear of failure">Learning from the fear of failure</cmsannotation> 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. 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. “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. 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. Later, inspired by her own experience, she started researching mental health, the science behind it and set up MindPeers. 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. 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. 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. 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. MindPeers also raised ₹1.12 crore in its first round of funding from an angel investor, at a valuation of ₹33.75 crore. <cmsannotation type="cmsannotation" annotationid="A ‘nudge’ for mental health" comment="subhead2" text="A ‘nudge’ for mental health">A ‘nudge’ for mental health</cmsannotation> 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. 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. 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. “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. 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’. 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. 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%. SEE ALSO: <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> <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>

An entrepreneur who battled anxiety develops app to gamify mental health

<ul><li>With consumer interest at the core of the consortium, the <keyword id="1464841" type="General" weightage="100" keywordseo="edtech" source="Orion">EdTech</keyword> companies have committed to observe and adhere to a common ‘Code of Conduct.’</li><li>It would establish a Two-tier Grievance Redressal Mechanism to ensure that the positive impact of the industry reaches every deserving consumer while protecting their interests and promoting their rights.</li></ul> Leading EdTech companies under the aegis of <keyword id="128625" type="General" weightage="20" keywordseo="Internet-and-Mobile-Association-of-India" source="Orion">Internet and Mobile Association of India</keyword> (<keyword id="149966" type="General" weightage="20" keywordseo="IAMAI" source="Orion">IAMAI</keyword>) today announced the formation of the India <keyword id="12934640" type="General" weightage="20" keywordseo="EdTech-Consortium" source="Orion">EdTech Consortium</keyword> (IEC). Aligned with the Government’s recent advisory, the IEC will ensure that every learner shall have access to quality and affordable education, which not only improves their academic performance but also makes them future-ready. With consumer interest at the core of the consortium, the EdTech companies have committed to observe and adhere to a common ‘Code of Conduct’ and establish a Two-tier Grievance Redressal Mechanism to ensure that the positive impact of the industry reaches every deserving consumer while protecting their interests and promoting their rights. Several EdTech entities have joined the IEC such as such as Byju’s, Careers 360,Classplus, Doubtnut, Great Learning, Harappa, Times Edutech &amp; Events Ltd, Scaler, Simplilearn, Toppr, Unacademy, upGrad, UNext Learning, Vedantu &amp; WhiteHat Jr. The move to set up IEC comes at a time when Indian EdTech players are creating immense value for the global audience. The disruptions led by the pandemic and subsequent lockdowns compelled both parents and educational institutions to implement tech-enabled learning solutions, thereby accelerating the growth of the EdTech sector. Indian EdTech operators have been solving for accessibility and affordability through quality courses from best teachers, instructors and faculty members, to ensure that students across all age groups are benefiting from the innovation in the education sector. This has elevated India’s position on the global map as an education hub. The overall Indian EdTech ecosystem impacts over 500M+ school students, college students and working professionals across India. At this scale, it is critical that the ecosystem follows a framework that will protect the rights of our learners and all EdTech companies are committed to this. Subho Ray, President, Internet and Mobile Association of India, said: “IAMAI and members of the India EdTech Consortium (IEC) are deeply committed to ensuring ethical standards to protect learners on online educational platforms. IEC seeks to empower the learners by not just helping them make informed decisions but by also having their grievances redressed timely. The formation of this self-regulatory body is an important step towards protecting learners as more and more students, teachers and stakeholders are becoming a part of the online education ecosystem.” Commenting on the formation of the IEC, Divya Gokulnath, Co- founder of Byju’s said, “We are completely aligned with the Government's principles on safeguarding consumer interests and welcome the creation of guidelines that help students reach their learning goals in a manner that makes them future ready and conceptually strong. We have always believed that the student should be at the center of the education system and as educators we must do everything possible to create the right set of processes and methods to empower and enhance their learning." Vamsi Krishna, Co-Founder &amp; CEO, Vedantu, said, “The Indian EdTech sector has grown considerably over the last two years with funding and consolidations strengthening the ecosystem. However, while business growth is critical, so is consumer protection since this will allow students and parents to make more informed decisions about the future. Therefore, as part of the newly institutionalized IEC, we will build a sounder and more ethical ecosystem for students so that we can ensure their safety and mitigate any risks they may encounter in their journey to be future-ready.” Mayank Kumar, Co-Founder &amp; MD upGrad and Co-Chairperson, IAMAI EdTech Committee, said, “We are honored to be a part of the IEC at a time when the EdTech sector is accelerating its growth momentum. The last two years have witnessed the rise of online education as a connecting bridge to access flexible and quality education for students as well as working professionals. With the sole purpose of improving the delivery of education services, it is now crucial for us to foster and sustain stakeholder trust by safeguarding their interest as a practice. This initiative will go a long way in strengthening the EdTech sector and establishing India as the Teaching capital of the world.” In the recent past, the education sector has undergone significant transformation and EdTech has supplemented in driving new-age academic excellence. Having created a significant impact by offering quality and affordable education services, EdTech entities have also improved learnability &amp; employability for users to address the evolving needs of the job market. The adaptive learning solutions have ensured that learners are not merely ‘knowledge receivers’ but ‘knowledge creators’ as well. The sector has also created large number of employment opportunities. However, as the sector and end users grow at a fast pace, it is critical to establish a standard code of conduct for all Indian EdTech entities to adhere to and ensure that ‘learners’ remain at the core of all the business practices.

You Searched For "classplus funding" and got 13 results

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

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