The best businesses are often born in the depths of gloom. Those who build quietly, frugally, passionately, and address deep customer pain will grow, Pai, partner, and Reddy, cofounder and partner at Blume Ventures write
Almost all education plays that moved online saw crazy demand. As the numbers grew, and venture capitalists (VCs) invested in these companies.
Illustration: Chaitanya Dinesh Surpur
In the first half of 2022, edtech funding hit $1.87 billion, according to Tracxn. This was a jump of 35 percent from the previous year, which itself had seen a 70 percent jump over the previous year.
In short, 2021 and 2022 saw a record rise in funding, audience numbers, engagement, hiring and growth. In Blume’s 2020 Edtech report titled ‘It is EdTech’s Moment’, we quoted an edtech founder saying, “The ecommerce of India is education” and that India’s Amazon would be an edtech company. We had indeed hit peak edtech.