Startups

Investors come calling for Gujarat education technology startups | Ahmedabad News

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AHMEDABAD: Edtech (education technology) startups have grabbed the investors’ eyeballs with rapid growth in online and remote learning after the outbreak of the Covid-19 pandemic. Gujarat’s edtech startups too have seen investors making a beeline to invest in their growth stories.
Last week, Saarthi Pedagogy raised Rs 7 crore from Ecosystem Ventures along with LetsVenture, JITO Angel Network and other investors. The city-based edtech startup provides a technology platform to integrate all segments of K-12 education for enabling stellar learning outcomes.
Another edtech startup from Ahmedabad LearnVern also raised $1 million (about Rs 7.3 crore) from international investors in April this year. Launched in January 2020, the startup offers job-oriented courses in vernacular languages.
Vadodara-based Edtech startup, IEIDidactics, has recently raised Rs 22.25 lakh from HDFC Bank’s SmartUp Grants. The startup has so far raised Rs 41.25 lakh from different channels, including state and central agencies.
One more edtech startup from Ahmedabad called Pedagogy raised $4 lakh (around Rs 2.9 crore) in April last year. Saras 3D, which has developed a series of education modules using stereoscopic 3D technology, has initiated initial level talks for funds as it aims to raise $ 10 million (about Rs 73 crore).
Investors pump $2.1bn in the edtech sector in 2020
Investors’ interest in edtech startups has grown substantially after the outbreak of the pandemic. Apart from venture capital (VC) and private equity (PE) investors, we are now being approached by even established companies that are interested in partnering with us to take our venture to the next level,” said Niral Modi, co-founder and CEO, LearnVern.
“The investments will continue to flow into edtech startups as the momentum in the education startup space is intensifying with students supporting it,” added Modi.
“Due to the pandemic, people have been forced to stay indoors and adopt newer technologies to engage and learn various skills. Also during this time, people started deferring their choices of selecting courses in prominent institutes from other cities and started
learning online instead. This has helped edtech startups to gain further ground,” said Dr. Satya Ranjan Acharya, In-charge, Department of Entrepreneurship Education, EDII-Ahmedabad.
“Edtech startups have thrived well since the pandemic and are expected to grow in the days to come. Technologies such as 3D and augmented reality and virtual reality are proving to be very useful as tools for online learning and are expected to grow,” said Malay Shukla, associate vice president, Gujarat University Start-up and Entrepreneurship Council.
Experts opine that edtech startups now need to focus on the quality and the kind of content they are offering so that it remains relevant and engaging even after the pandemic.
According to a research report by Anand Rathi Advisors Limited, investors pumped in $2.1 billion in the edtech sector across India in 2020, which is more than the total amount edtech received in the past decade ($1.7 billion).

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