Edtech RoundUp - September 2022
After two years of rapid expansion, spurred by the pandemic-led school closure, India now has a large field of edtech startups. The resurgence of face-to-face teaching as universities and schools across the country reopen has compelled a turnabout.
Additionally, the National Education Policy of India asks for a complete revamp of the educational system, with edtech and hybrid learning at its core. Although just fundamental, teachers, students, and parents have gained new digital skills and been reminded of other advantages of attending school.
Let's look at some of the main EdTech industry highlights from September:
1. Scaler Plans to Hire 600+ Techies
A newbie in the edtech space, Scaler has announced plans to hire over 600 IT professionals by the end of 2022 to keep up with the industry's expanding need for qualified tech skills. The sales, careers, instructors, and operations teams will surge in recruiting. Scaler now employs over 1,800 people, but it plans to increase that number by 35% to meet the organization's expanding demands.
A NASSCOM analysis claims that by 2026, India may experience a 14–19 lakh technical shortage. So, to address the increased demand for qualified talent and maintain the trajectory of "impact-driven" upskilling, Scaler is boosting its support and teams.
2. TeamLease Plans to Launch IPO Soon
TeamLease expects to achieve net revenue of Rs 130 crore in FY23, with a net profit of 15%. The company intends to expand its recently launched degree apprenticeship program, which teaches students skills relevant to the industry.
The company aims to boost its customer base from 4 lakh to 7 lakh in FY 23. It also anticipates launching an initial public offering (IPO) in the market within the next five years.
3. Motion Education Aims to Invest Rs 100 Crore to Expand Its Hybrid Model
Kota-based Motion Education aims to invest at least Rs 100 crore over the following two and a half years to grow its hybrid business and enter the edtech market.
The firm has hired 300 personnel for its edtech division, aiming to grow to 600 employees over the next two and a half years. By 2024, it also plans to increase the number of offline centers it operates from 52 to approximately 150. The company wants to expand centers on franchisee-owned company-operated (FOCO) models in tier-2 towns.
4. upGrad Acquires Centum; HCL Acquires Majority Stake in GUVI
Edtech unicorn upGrad has fully acquired corporate training solutions firm Centum Learning. Corporates can receive impact-based training from Centum. Furthermore, it provides academic and vocational training to enable college graduates and students to become self-employed.
Later this month, IT giant HCL announced that it has paid an undisclosed price for a majority share in the vernacular edtech platform GUVI, one of the few firms in India to collaborate with Elon Musk's "OpenAI'' effort. This initiative will address the severe technical talent gap across organizations.
5. Leverage Edu Plans to Double Personnel
Leverage Edu, a global platform for studying abroad, has declared that it will double its 1,500-person workforce in the upcoming 12 months. According to a statement from the company, which has increased 20x since January 2022, it expects to earn Rs 100 crore in revenue in FY 2023.
The startup has hired over 1,000 people in the past 12 months and increased its staff due to the pandemic. The company is currently concentrating on growing its recently introduced finance area, Fly Finance.
6. ADDA247 Aims to Raise $35-40 MN From Westbridge and Google, Among Others
Edtech firm Adda247 is in the final stages of raising $35–40 million in a new round from both new and existing investors. It will be the startup's second investment round in a year for the Gurugram-based startup.
In addition to Google, WestBridge is leading a $35–40 million Series C financing in Adda247. It will be Google's first direct investment in an edtech company.
7. Simplilearn Partners Meta Immersive Learning for AR-Based Course
Simplilearn, an edtech skilling platform, has a pact with Meta Immersive Learning to offer training in augmented reality courses. The program's ideal candidates are software developers, digital marketers, animators, and AI engineers.
The course, Spark AR, teaches the abilities necessary to produce simple augmented reality effects. It will debut in important markets like India, the US, Europe, and the Middle East. Students can learn to use Spark AR Studio's 3D modeling, texturing, and other tools to launch or advance their careers.
8. PhysicsWallah Gets Into PG Test Prep Race With GateWallah
According to a statement released by PhysicsWallah, the edtech unicorn has entered the test preparation market for postgraduate students preparing for the Graduate Aptitude Test in Engineering (GATE) exams.
The new vertical GATEWallah, which Westbridge and GSV Ventures support, will be run by a team that includes IITians, former IES officers, and GATE under-ten rank holders, among others.
9. Unacademy Launches 50 YouTube Educational Channels
The leading edtech platform Unacademy debuted 50 new educational channels on YouTube. It also disclosed a partnership with GATE Academy, via which all GATE candidates can access the category's top-notch content.
The educational channels cover broad categories like NEET-UG and JEE, UPSC, and other post-graduation sectors, together with the bank, SSC, and defense. Some channels include new content categories, such as "Tick Tock Tax" — a platform for cracking JEE and discussing the success stories of top Rankers — and "Life After IIT."
Wrapping Up
Over the past two years, India's transition to online schooling has changed the scene. Indian edtech companies are making investments in physical tutoring facilities for students. Other edtech platforms focusing on professional education, reskilling, educational support services, or providing trending courses are also in high demand.