Today, Education Technology (Ed-Tech), is one of the leading sectors where many Indian and Global start-ups have ventured with disruptive & innovative business models and ideas. From audio books to 3D study models and digital platform for learning, there is a lot that the digital era has revolutionised, and this is just a stepping stone. According to a joint report by KPMG and Google, the Ed-Tech industry in India is estimated to witness an 8x growth over the next 5 years to reach the USD 1.96 billion by 2021(source). Owing to the ease of studying through Ed-Tech portals, students are able to comprehend the subject and topics more easily now.
Edupreneur Village, India’s first Ed-Tech focused early stage Venture Capital Fund, has started a content series about Innovative Ed-Tech Ideas across the world. Through this article, we discuss the first part of the seven part content series.
Below is a brief summary of four such innovative Ed-Tech start-ups:
- Nearpod: Listed as the number one Ed-Tech tool according to Education Experts (source), and based in Florida, USA, Nearpod transforms student devices into powerful learning tools. Teachers can create engaging and interactive lessons & assessments, using tools like VR Field Trip, 3D models, quizzes, Polls, Videos, Images, Drawing-Boards, making Nearpod an ‘all in one digital platform’ that has enhanced the traditional method of teaching. Multiple students can be present in one virtual class and attend the session without the need to be physically present in a classroom. Teachers share a live session, students enter a code, and the lesson is synced to all devices. (source). With funding of $21 million raised till date, Nearpod is currently being used in more than 12,000 schools in the United States.
- Lifeliqe: Based in San Francisco, USA, Lifeliqe is the world’s first learning platform that enables users to drag & drop interactive 3D models into lesson plans, e-books and other learning resources. Using technology such as AR, VR & Holographs, it gives students the ‘life-like’ experience to help them understand better. They have a library of high quality & interactive content. For example, the features of Lifeliqe enable students to examine a satellite in space virtually, animal anatomies, etc. The tablet content of the company (what does this mean?) is already in use in more than 15,000 schools globally. It has raised around $7 million for expansion till date.
- Novel Effect: Based in Seattle, USA, Novel Effect is an interactive storytelling platform that brings kid’s books to life by playing sound effects, music and character’s voices to build up the interest of children in books. The voice recognition technology syncs with the users’ style of reading, to give a complete storytelling experience to the child. Backed by industry leaders including Amazon, it was part of the first ever Alexa Accelerator run by Techstars in Seattle in 2017.
- Quizlet: Based in San Francisco, USA, Quizlets makes learning easy & enjoyable for students through its platform that facilitates learning through flashcards, games, diagrams, and also helps in making personalized learning plans. With ready built-in sets or the option to customise, they offer everything to their client. They are backed by a group of investors including Fred Wilson at Union Square Ventures, Greg Sands and Mark Selcow at Costanoa Ventures, Tory Patterson at Owl Ventures, Ho Nam at Altos Ventures and Dave Margulius. The startup has raised $32 million till date and has a user base of 50 million customers.
We’ll soon share the next edition and discuss many more Ed-Tech start-ups. Please note, this is part of Edupreneur Village’s Global information series about innovative Ed-Tech business models. Edupreneur Village has no association with the aforementioned ventures.
Want to learn about unique business models, fundraising tips, and more? To stay updated for more such content and receive weekly newsletters, subscribe at http://bit.ly/2Me3hNw.
Edupreneur Village is an early stage Ed-Tech focussed VC Fund, backed by Sri Aurobindo Society, that not only funds the start up, but also mentors, nurtures and provides all the support required to reach Series A stage funding. With a network of 30 lakh schools across India, they also help distribute and launch the product