Edtech startups in India have raised a total $2.22 bn in 2020, according to a report by Indian Private Equity and Venture Capital Association and PGA Labs. These startups, so far, have raised a total of $4 bn since 2016. Byju’s and Unacademy topped the list with a total of $2.32 bn and $354 mn, respectively. Followed by Vedantu at $206 mn, Toppr at $107 mn, and Lead School at $39.4 mn. B2B edtech firms raised a total funding of $31 mn between 2017 -20.
Toppr has raised $46M in Series D funding round led by Dubai-based investment firm Foundation Holdings. Kaizen Private Equity, an existing investor, also participated in the new round summing Toppr’s total raise to $92M. Toppr funding announcement comes at a time when online learning is at its peak. The start-up will continue to scale its products and services. It will also invest in Marketing for the first time. Also, merger, acquisition deals may be signed.