Ed-tech industry to be renewed with fresh investments and growth

The post-COVID world has only driven more demand for ed-tech and as such, the Indian ed-tech market is expected to see fresh investments and high pitched growth.

According to a report by PGA Labs and Indian Private Equity & Venture Capital Association, the Indian ed-tech start-ups received a total of $2.22 billion in investments last year, compared to $553 million in 2019. Companies believe this trend is likely to get stronger this year with expansion planned by various ed-tech start-ups and remote education continuing to be big.

Prerna Jhunjhunwala, founder of e-learning app for children Creative Galileo, highlighted that in just over six months of its launch, the platform received over a million downloads. “We believe that technology will play a critical role in delivering personalized and meaningful education, and we intend to integrate digital tools to drive meaningful and holistic education experiences for children.”

Rishi Ahuja, founder of immersive technology company KLIP, pointed out the fact that the current education system lacks in the essence of creativity. “We are still following methods developed in the colonial era when it comes to education. Teaching methods should be re-framed and teachers should be encouraged to inculcate logical thinking and creativity within students,” he explained.

Ashwini Kumar Sharma, Vice Chancellor of Symbiosis Skills and Professional University, says the COVID-19 induced lockdown and further restrictions have accelerated the adoption of digital technologies. “This is an ideal time to experiment and deploy new tools to make the delivery of education meaningful to students who can’t go to campuses. It’s a chance to be more efficient and productive while developing new and improved professional akills through online learning and assessment.”

Faisal Kawoosa, Founder and Chief Analyst at techARC, had earlier said that education is one area where one solution one approach won’t work. And that’s where ed-tech start-ups are playing a crucial role in bringing variety to make it inclusive, helping every kind and stage of a student.

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As India hopes to revive the economy after the pandemic, the education sector’s future promises a new beginning with fundamental changes expected to take place with the implementation of new education policy. And in the technological side, the new era of 5G services in the country which is poised to further transform the education sector.