Investments/ Recent Developments

From April 2000-December 2023, Foreign Direct Investment (FDI) equity inflow in the education sector stood at US$ 9.49 billion, according to the data released by the Department for Promotion of Industry and Internal Trade (DPIIT).

The education and training sector in India has witnessed some major investments and developments in the recent past. Some of them are:

• Edtech startup ConveGenius has raised US$7 million, led by UBS Optimus Foundation.
• The National Education Policy (NEP) 2020 has been a cornerstone in driving comprehensive reforms in higher education, with the overarching goal of increasing the gross enrolment ratio (GER) to 50% by 2035.
• A total of 91 Indian institutions have been included in the Times Higher Education World University Rankings 2024, up from 75 in 2023.
• India overtakes China as fourth most numbers of universities in Times Higher Education University Rankings 2024
• Under the Interim Budget 2024-25, the Department of School Education & Literacy's budget allocation for FY 2024–2025 is Rs. 73,498 crores (US$ 8.82 billion), the highest amount ever.
• In December 2023, UNICEF, and its global partnerships platform Generation Unlimited (also known as YuWaah in India) partnered with key organisations committed to working towards a green future for children and young people as a part of the Green Rising India Alliance.
• Prime Minister Mr. Narendra Modi, in July 2023, laid the foundation stone for three new buildings at Delhi University — the faculty of technology, a computer centre, and an academic block.
• In September 2023, the government launched the Skill India Digital (SID) platform to make skill development more innovative, accessible, and personalised with a focus on digital technology and Industry 4.0 skills.
• In September 2023, a three-year partnership called "Education to Entrepreneurship: Empowering a Generation of Students, Educators, and Entrepreneurs" was launched by the Ministry of Education and the Ministry of Skill Development and Entrepreneurship, and Meta in New Delhi.
• In August 2023, Union Minister of Education Mr. Dharmendra Pradhan unveiled the National Curriculum Framework for School Education (NCF), which has been developed based on the National Education Policy (NEP), 2020 vision. As per that, in order to guarantee that students have adequate time and opportunity to perform successfully, board exams will be offered at least twice a year.
• In August 2023, Amazon India launched the third edition of Machine Learning (ML) Summer School. This program aims to provide students with the opportunity to learn key ML technologies from Scientists at Amazon.
• In July 2023, the Indian government announced a new free AI training course as part of its India 2.0 program. Developed in a collaborative effort between Skill India and GUVI, the program proudly holds accreditations from the National Council for Vocational Education and Training (NCVET) and IIT Madras.
• In November 2022, the Indira Gandhi National Open University (IGNOU) launched an online MA programme in Sustainability Science.
• Under the revised curriculum as per the provisions of the National Education Policy (NEP) 2020, students of BA-LLB (five-year integrated law course) of Allahabad University (AU) will be taught about disaster management.
• As per the QS World University Rankings 2023, India is home to 41 out of almost 1,500 top global institutions in the world, with the Indian Institute of Science in Bengaluru being the highest-ranked institution in the country at rank 155.
• GSV Ventures, a US-based venture capital firm focusing exclusively on edtech companies globally, intends to increase its investments in India's struggling edtech sector despite significant layoffs and funding challenges.
• In October 2022, Byju’s raised US$ 250 million from its existing investors, including Qatar Investment Authority (QIA).
• In September 2022, UnfoldU Group, India’s leading online education player, announced plans to enter the space of Metaverse education.
• In August 2022, Edtech startup Sunstone, which offers higher education programmes, raised US$ 35 million in funding, with participation from Alteria Capital and WestBridge Capital.
• In August 2022, Bharti AXA Life announced a partnership with Great Learning, a leading global edtech company, to curate and develop a Post Graduate Program in life insurance sales.
• Nine Indian institutes - the Indian Institute of Science (IISc) in Bengaluru and eight Indian Institutes of Technology (IITs) - were among the top 500 universities in the QS World University Rankings 2023.
• Indian edtech startups have received total investment of US$ 3.94 billion across 155 deals in FY22. Growth-stage funding rounds accounted for about 60% of the deals in EdTech space in terms of deal count, with an average ticket size of US$ 10 million in H1 CY23. In H2 CY22, Byju’s and UpGrad each raised a substantial sum of money—more than US$ 200 million.
• In June 2022, Pfizer India and the Americares India Foundation launched the OPEN AMR – an online education platform for nurses to learn anti-microbial resistance.
• In June 2022, edtech platform PhysicsWallah became India’s 101^stunicorn by raising US$ 100 million in a Series-A funding round from WestBridge Capital and GSV Ventures, valuing the company at US$ 1.1 billion.
• In June 2022, edtech unicorn UpGrad raised US$ 225 million in a funding round that included Lupa Systems LLC and US testing and assessment provider Educational Testing Service, valuing the company at US$ 2.25 billion.
• In June 2022, Amazon India launched the second edition of Machine Learning (ML) Summer School, with the aim to provide students the opportunity to learn important ML technologies from Amazon scientists, making them ready for careers in science.
• India had 89 universities in Times Higher Education Emerging Economies University Rankings 2022, behind Russia with 100 and China with 97.
• In February 2022, the AICTE - backed by AWS Academy and EduSkills - launched a two-month virtual internship program in AI for 5,000 students. The course duration is two months, and the students will receive a certificate and a digital badge upon completion.
• In February 2022, education-focused fintech firm Propelld raised US$ 35 million from in a series-B funding round from WestBridge Capital, Stellaris Venture Partners, India Quotient, and others.
• In February 2022, the Tech Mahindra Foundation, the company's CSR arm, partnered with Amazon Internet Services Private Limited (AISPL) to help underemployed or unemployed people get started in cloud computing. The AWS re/Start programme was a 12-week in-person skills-based training programme that covers foundational AWS Cloud abilities, as well as practical job skills like interviewing and resume writing to assist individuals in preparing for entry-level cloud positions.
• In October 2021, Teachmint was valued at US$ 500 million after a US$ 78 million funding round.
• In October 2021, Byju’s raised Rs. 2,200 crore (US$ 300 million) to increase the company’s valuation from US$ 16.4 billion in 2020 to US$ 18 billion in 2021.