If in these incredible times there is one sector which continues to see exceptional growth, it is education. At the end of March, the coronavirus locking Indian cities has contributed to the unexpected development and acceptance of online learning sites and e-learning sites. It’s not shocking because 1.5 billion students almost grew up overnight when towns were closed up and schools were shut down.
The first and most successful ed-tech company in India, the BYJU ‘S, has seen 7.5 million new users on its website since it began providing free internet access. The Bengaluru-based company raised turnover by Rs 350 in April alone. “In April, despite being secure, we have just completed our best month. BYJU’s Co-founder and CEO Byju Raveendran told YourStory Founder and CEO Shradha Sharma recently, “We are expecting [income] over the next three or four months to twice as much.”
The $10 billion startups have recently integrated free “Online Lessons” into its app. The purpose aims to recreate online an atmosphere that resembles classrooms and is distinct from the normal BYJU ‘S pre-recorded videos. “Students will take regular classes and they enjoy it. The functionality is supposed to mimic school regularity, “says Byju.
Great Learning, an Edtech firm, said it raised its annual profits by 150% to Rs 325 crore, with coronavirus lockdown increasing the market for training for new skills for professionals. The gurugram-based startup, founded by Mohan Lakhamraju, a former Indian chief of Tiger Global, said that over the past year and in particular during lock-ups there was an increasing need for digital skills such as data studies, analytics, AI, deep learning, cloud computing, cybersecurity and digital business.
The immersive online learning platform Vedantu experienced a big increase after the students were confirmed that the shutdown of COVID-19 will include free access to their learning site.
The number of Vedantu subscribers has exponentially risen to 6.5 lakh more K-12 students and competitive exams like JEE and NEET, among them many others.
During the lockout, Vedantu has gone through its website and platforms for a period of one billion minutes. Its income and revenue in May increased by 80% over the previous month, and in the last 2,5 years, it reported the highest growth.
In FY20, the startup of edtech reported a 400 percent growth in sales. In the lockdown months of April and May, it reported its highest monthly revenue growth, rising 30% compared to March.
The Infinity Board, founded in 2017 by Sumesh Nair CEO and Abhay Gupta COO, aims to provide students and working professionals with valuable job advice and know-how at the start of their career.
With a good presence in Mumbai, Noida, Gurugram, and Bengaluru, the company expect to continue expanding into other major cities of Tier II across India. In July 2019 the Mumbai startup raised Rs2.2 crore from a handful of investment firms, including InfoEdge ex-CFO Ambarish Raghuvanshi, and Careers360 founder Maheshwar Peri.
In April 2020, Unacademy, a technology company, reported a significant growth in terms of sales, video shares, watch time, etc., by smashing up all previous records. A co-founder Gaurav Munjal’s Twitter post reported that Unacademy ‘s April 2020 revenue was higher than 2017 and 2018, and combined for the first half of 2019. “It was a great month for us,” said the post. Last year Unacademy released its test-prep subscription program and had crossed 36 million ARR before the pandemic. Gaurav says that since then the start-up has risen 3 times to 100 million ARR.