[Startup Bharat] Satna-based BharatClass enables classroom teachers to set up virtual institutions in 30 secs
Edtech is hotspot
Varun Gupta of Avendus Capital said that close to $1 million in funding has been attracted by edtech players in India in the last seven months. Interestingly, most of it happened pre-COVID-19, which, as Varun pointed, means that digital learning had started before the outbreak. However, the pace and focus have now been picked up. He also asserted that this is one of the best times for the investors to invest in the edtech space.
Breaking down the investment pattern, Varun said that 85 percent of this funding is marked for after-school supplementary education in the K-12 space. Going ahead, he opined that while physical schools will resume, the role of technology will change. In the post-COVID-19 world, he predicted that education will become more experiential and hybrid.
“Our schools are going to use experiential learning, tech-based assessments, and online assessments instead of periodic class tests. And the digital assessment will give a clearer picture of student’s strength areas and weak areas,” he said. He added that offline players will increasingly become more hybrid, and digital players will increasingly become mainstream.
According to a study by Ken Research, India’s online education market is growing at more than 20 percent annually, and is expected to reach $2 billion in size by 2021. The sector continues to be buoyed by rapid technology penetration and non-uniformity of quality education systems in the country.
(Edited by Kanishk Singh)
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