India has shown great uproar in the advancements in education field. There have been technological aids that are being introduced to the students every month. Nowadays, there are hundreds of mobile applications that are helping students enhance their learning method. Many Edu-tech start-ups have also come forward in the recent years and have introduced innovative ideas to enrich the educational system and learning method of students.
Currently, there are more than 500 start-ups in the country which are working on educational technologies and these have been generally referred as Edu-tech start-ups. These start-ups are actively taking part in transforming the education system of the country. They have brought in several technologies and services for the students that were earlier thought to be not possible. Also, these start-ups have connected the students that were earlier supposed to be inaccessible in the advancements of the education system.
Funding in Edu-tech start-ups
Edu-tech Start-ups have seen recommendable growth in the past 5 years. These start-ups have come up in the nine segments as has been studied by Craft Driven Market Research in its latest study on Edu-Tech start-ups of India. The segments are E-learning, learning management, ERP. ,Career counselling, extra-curricular, study material, information provider, test preparation and 3D learning.
These start-ups are being backed with huge funding and investments by venture capitalists. As has been predicted by the study, the growth in the number of funding in Edu-tech sector this year would be 12%. There are various companies that have already received funding in this year such as Cue Math, Magic Crate, Avanti Learning, My City 4 Kids and these start-ups are operating in different segments.
E-Learning segment
However, if we consider the funding that has taken place in Edu-tech start-ups since 2014, E-learning has been the biggest segment. It is close to 40%. This is one of the biggest as well as oldest segments in the edu-tech industry. There are some prominent players in Edtech sector which are Vedantu, Upgrad and many more. These start-ups mainly provide services in the form of learning through internet on any possible topic that. There are various training programmes that these start-ups are making available. Many start-ups even provide certification courses for the learning that has been done by the students thereby enhancing the career profile of the student.
Career Counselling Segment
Another segment that is popular is career counselling. Since 2014, many career counselling platforms have been funded. These companies provide different kind of services in career counselling. Some of them directly provide career counselling, however some such as Career Guide act as a platform for career counselors across the nation and connect them to the student, thus providing an access to the student to talk to an expert related to their career questions.
This segment has observed much attention from the students in the recent times owing to the increased awareness among the students. These start-ups have removed the stigma that career counselling is only for students studying in metro cities. Now, all the students can take online career counselling from the experts sitting at their homes.
Learning Management System
The next statement in Edu-tech start-ups which has emerged as the highest fund collector is Learning Management. There has been close to 10% funding that has taken place in this segment. Many new companies are also entering in this field. The field not only supports educational institutes in managing all the courses and learning within the institute but also supports the students in managing all of their courses and learning material. Learning management system enhances the learning mechanism of the students. Several big players all already there in this field such as Blackboard, a major global player. Many domestic start-ups are also showing up in this field such as Smartivity.
Apart from these three segments, the other popular segments are information provider and test preparation. Some of the companies such as Ed-Tech review has recently received much attention from the students due to the quality of the information provided by them. Also, several Edu-tech start-ups have emerged in the field of providing study material for competitive exams.
These start-ups have made it possible for the students to continue their studies in their respective cities instead of going to the coaching hubs. It is expected that very soon, the whole picture of the education industry in the country will be changed in a positive manner.
This is a guest post by Aakanksha Aggarwal, Founder, Craft Driven Research.
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