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Inside India’s Edtech Bust

Once an investor favourite, the edtech space has suddenly become the unwanted child left to fend for itself. Is it the end of India’s edtech boom?

When BYJU’s turned a unicorn in 2018, unicorn was not really a buzzword. Today, India has more than 100 unicorns and seven of them, including BYJU’s, are edtechs. Unacademy achieved the cult status in 2020, while upGrad, Vedantu and Eruditus reached the $1 billion valuation mark in 2021. In 2022, LEAD became a unicorn in January and PhysicsWallah joined the club in June.