Top 10 Biggest Edtech Companies In India

Did you even know that India’s edtech sector has grown 32 times in the last decade? It went from just $500 million in 2010 to $16.1 billion in the last fiscal year. That’s insane growth right there. But it gets even more interesting, you know? Well, many experts in this sector have speculated that it will continue to grow like this, and will reach the $30 billion mark by or before the year 2031. And all of that is thanks to the edtech companies who are doing the actual work on the ground level. If that’s what you feel intrigued about, then you are at the right place because it is a lowdown on the top 10 largest edtech companies in India. So yeah, without any further ado, let’s jump onto the list, shall we?

Top Edtech Companies In India

1. BYJU’S

Byju's

Started in 2011 by Byju Raveendran and Divya Gokulnath, along with some bright minds, it quickly became a big deal in India’s EdTech scene. You see, Raveendran kicked off this journey teaching maths in 2006, who knew, right? And boy, did they grow fast! They made waves in the Deloitte Technology Fast 50 India and the Fast 500 Asia Pacific ratings since 2012. The big leap came in 2015 with ‘Byju’s: The Learning App’. By 2018, they’re boasting 15 million users, with 900,000 paying, making them India’s first EdTech unicorn. But here’s the thing, 60% of their students in 2019 were from non-metros and rural areas.

  • Revenue: 2,280 crores INR
  • Market Cap: 1.82 lakh crore INR
  • Number Of Employees: 24.78 thousand

They even went international, setting up shop in Doha with Qatar Investment Authority. But yeah, they’ve had their fair share of troubles like high fees, aggressive sales, and some advertising hiccups with WhiteHat Jr. They also hit some bumps with late financial filings and had to let go of over 5,000 employees.

2. Unacademy

Now, onto Unacademy. It all started with a YouTube channel in 2015. Gaurav Munjal, Hemesh Singh, and Roman Saini, these guys had a vision. They wanted to shake things up with short video tutorials. And shake things up they did! Their app, launched in December 2015, aimed to give away free interactive content. By 2017, they’re looking at 1 million learners and 5,000 educators. They cover everything from JEE, NEET, and UPSC, to programming and photography.

  • Revenue: 403.4 crores
  • Market Cap: 25000 crore INR
  • Number Of Employees: 350+

Fast forward to 2019, and they’re rolling out Unacademy Plus, grabbing almost $87 million from investors like Sequoia Capital India and even Facebook. They hit the jackpot in 2020 though, becoming a unicorn with a whopping $1.5 billion valuation. It is true that they had a bit of a data leak in 2020 and faced some heat for content and educator management.

3. Vedantu

Based in Bengaluru, this multinational online tutoring platform is all about grades 4 to 12. Launched in 2014 by a group of IIT alumni, Vamsi Krishna, Pulkit Jain, Saurabh Saxena, and Anand Prakash, these guys meant business. They focus on STEM, languages, and social sciences, using their cool White Board Audio Video Environment (WAVE). They’ve been part of IAMAI’s India EdTech Consortium since 2022 and even launched W.A.V.E 2.0, an AI/ML-supported platform.

  • Revenue: 168.9 Cr INR
  • Market Cap: 8,200 crore INR
  • Number Of Employees: 3300

Funding? They’re swimming in it, with over $200 million by 2020 and another $100 million in 2021. But, 2022 wasn’t kind. Funding dried up, and they had to let go of about 1,070 employees. Still, they’re making moves, acquiring Instasolv in 2021 and investing in Pedagogy the same year.

4. upGrad

upGrad, right from Mumbai, is making big waves in online education. It all started with a dream to use India’s growing internet and smartphone scene to make learning affordable and flexible. And they’ve done it! upGrad’s got all sorts of courses in data, tech, and management, aimed at students, job seekers, and pros. They team up with big names like IIIT-B and BITS Pilani to make sure their programs are top-notch. They even make learning fun and engaging with one-on-one mentoring, industry networking, and expert career advice.

  • Revenue: 679 crore INR
  • Market Cap: N/A
  • Number Of Employees: 3,000+

Started with just entrepreneurship, now they’re all about diverse online courses. They’ve even partnered with giants like Google and Flipkart. Money-wise, they’re on a roll, having raised a whopping $668.2 million.

5. Physics Wallah

Started in 2014 as just a YouTube channel by Alakh Pandey from Uttar Pradesh, this one’s a real game-changer. It was all about helping students crack tough exams like NEET and JEE with awesome videos. Fast forward to now, and they’ve got an app and tons of courses for all sorts of exams.

  • Revenue: 751 crore INR
  • Market Cap: 8000 Crore INR
  • Number Of Employees: 10,001 to 50,000

Did you know that their app was downloaded 10 million times by January 2023? Then, in 2022, they hit a huge milestone, becoming India’s 101st unicorn company after getting $100 million in funding. They’re expecting their revenue to skyrocket to around Rs 2,500 crore, thanks to expanding their courses for students as young as fourth graders, all the way up to civil services exams.

6. Simplilearn

Moving on to Simplilearn. This one’s all about never stopping learning and transforming careers. It began in 2007 as a blog by Krishna Kumar, sharing insights on the Internet and PMP exam prep. By 2009, they had over 3,000 execs learning from 100+ countries. Seeing the potential, Krishna turned Simplilearn into a full-fledged online school for professional certificates, mixing online lessons with live classes and practical labs. And yeah, investors caught on quick too, helping them go global.

  • Revenue: 480 crore INR
  • Net Worth: 712 Cr INR
  • Number Of Employees: 1,001 to 5,000

The big moment in 2015, they bought Market Motive, stepping into the US market. Then, they went all in with online learning, standing out from other MOOCs with their engaging, hands-on approach. They even launched a TV ad in 2016, a first for an Indian edtech!

7. Adda247

Started just in 2016, Adda247 has now become one of the best and biggest edtech platforms in the country. So much so that now they’re helping over 40 million people every year. On their online platforms right now, they’ve got live classes, video courses you can watch anytime, mock tests, ebooks, and even actual physical books. You see, in the fiscal year ending March 2022, they grew by a whopping 68%!

  • Revenue: 130 crore INR
  • Net Worth: 349 Cr INR
  • Number Of Employees: 250-300

But yeah, with growth comes bigger expenses, and they saw a rise in losses too. Even with these money challenges, Adda247 is doing better than a lot of other startups in how they spend. They’re not just about government job exams anymore, now they’re also into K-12, JEE, NEET, GATE, and more.

8. Careers360

If you have ever searched an exam-related query on Google, or the internet in general, then you may have seen Careers360’s name popping up in search results numerous times. Right? That’s how they started, but now, whenever you are in search of career-related queries or anything exams-related, Careers360 is the most trusted platform out there. As of now, on their platform, they offer a whopping 250+ products, from exam prep to college suggestions. But did you know that over 225 million students use their services every year?

  • Revenue: N/A
  • Net Worth: 117 Cr INR
  • Number Of Employees: 201 to 500

And yeah, they just had their second Faculty Research Awards in 2023. They honored 81 top-notch researchers from places like IITs, NITs, BHU, AIIMS, DU, and IIM. This award looks at things like how many times their work’s been cited and the h-index.

9. Toppr

Toppr a big name in India’s edtech scene since 2013. Zishaan Hayath and Hemanth Goteti started it. At first, they helped students crack tough exams like IIT, JEE, and NEET. But now, they’ve got something for every student, junior to senior. They’ve got a smart trick up their sleeve: offer their paid services free for a bit to get students hooked. Clever, right? And they’re not just about attracting students though. They’ve built a huge library with 2 million study materials.

  • Revenue: 50.6 crore INR
  • Market Cap: N/A
  • Number Of Employees: 1,001 to 5,000

When COVID-19 hit, digital learning became a big deal. Toppr was right there, riding the wave. Their app sessions shot up to 32 million per month post-lockdown. But even with this boom, they saw a 40% revenue dip in FY21. Why? Because Byju’s, another edtech giant, took over.

10. iQuanta

Lastly, let’s take a look at another edtech company, and it is none other than iQuanta. Indrajeet Singh started it in 2017, and it quickly became a go-to for CAT and MBA exam prep. Just four years in, they managed to help more than 10,500 students get IIM calls and over 1000 land spots at IIMs. That’s super impressive, especially in such a short time!

  • Revenue: N/A
  • Market Cap: N/A
  • Number Of Employees: 790+

They have a team of a bunch of experienced faculties and mentors guiding over 15,000 MBA hopefuls. They’re big on quality education and have carved a niche as a top online CAT coaching platform. And did you even know that the Government of India recognized iQuanta under the StartUp India initiative? That’s a big deal because not many startups get this nod. It speaks volumes about iQuanta’s performance and potential.

Conclusion

There you have it. With this information at your disposal about these edtech giants in the country, you are better off forming your own conclusion. Whether you are a student, or maybe you are an eager investor, we hope that our post has helped you out in some way possible.

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