Education has become a fiercely competitive sector in the digital space. Even though most Indians don’t pay for online services (just look at Facebook, which boasts over 400 million users in India but makes very little revenue), numerous worddocx startups are venturing into edtech with hopes of capturing market share and eventually growing into successful businesses.
Though the edtech sector is rapidly growing, it can still be challenging for small startups to scale and develop into a significant business hdxwallpaper without an established platform to rely on. Therefore, most edtech startups are seeking out smaller players in order to expand their services and reach more students.
Teachmint has successfully implemented telesup this strategy, amassing over 700,000 teachers within its first 10 months of launch.
Gupta attributes the company’s growth to its mobile-first video-first strategy, which allows students to interact with teachers on their happn smartphones in real time. This provides for a more immersive learning experience and makes teaching much simpler for teachers, according to TechCrunch.
Gupta reported Teachmint’s 100% monthly growth rate, meaning it now boasts more than 25 million live classes. As a result, Teachmint has doubled the number of teachers it already employs, according to Gupta.
Teachmint said they plan to use the funds raised roobytalk from this round to expand their product offering and reach more teachers in India. Furthermore, Gupta noted that they are interested in exploring strategic acquisition opportunities with smaller startups.
As India’s coronavirus pandemic continues to spread, scores of educational technology firms have stepped in to offer assistance. With many schools closed by the government due to the outbreak, many parents are turning towards online resources for support.
Top players include Byju’s, Unacademy and Vedantu. All have seen impressive increases in their user bases as a result of the pandemic that caused New Delhi to temporarily shut down schools.
Byju’s is one of the most popular apps for students in India, boasting 80 million registered users and 5.5 million paying subscribers. The profitable company has generated revenue of about $100 million in the U.S. alone.
Another edtech firm that’s experiencing success is LEAD School. This service provides an asynchronous virtual classroom for those students who can’t attend traditional classes due to schedules or family obligations. Plus, live lectures and comprehensive assessments help prepare them for entrance exams like the Joint Entrance Examinations – a major test which determines admission into engineering colleges in India.
GSV Ventures-backed startup Scaler wants to change the perception of what it means to be an engineer in India. Their platform, Scaler, seeks to transform how people view their careers here by helping people acquire new skills and prepare for more demanding roles, according to Manish Saxena – co-founder and CEO.