India now has 402 million internet users - second only to China.
Edtech major Byju's has raised over Rs 363 crore (about USD 50 million) in funding from Maitri Edtech and IIFL's private equity fund, according to regulatory documents. Over the past few months, Byju's has raised funding from a slew of investors that has placed the edtech major among the most-valued start-ups in the country. Byju's is estimated to have raised about $2.3 billion in funding so far with valuation touching $6.5 billion.
Students may choose between weekday and weekend batches, and attend scheduled online maths and science classes based on their school curriculum.
India has around 355 million Internet users, second only to China, says a report
India is Facebook's largest market with 250 million active monthly users. Along with Google, it has a 70 per cent share in the Rs 1,000 crore domestic digital ad market.
Investments totaling over $9.5 billion in Jio Platforms by a clutch of private equity firms, following social media giant Facebook's $5.7 billion mid-April investment in the company, helped overall.
While BlackRock is an existing investor in Byju's, T Rowe joined as a new investor.
India is currently home to 52 unicorn startups and one of the fastest-growing startup ecosystems.
India's shift towards US companies for technology investments and partnerships fits well with the present government's 'Atmanirbhar Bharat' and 'Make in India' initiatives, say experts.
'India missed the software products revolution (and now is in danger of missing the platform revolution), complacent that we are the software experts of the world based on IT services prowess,' points out Rajeev Srinivasan.
Make no mistake, Reliance's entry into Indian e-commerce cannot be taken lightly. It is akin to a combine of AT&T and Wal-Mart challenging Amazon on its home turf, says Shailesh Dobhal.
Will the warning shots from giants like Unilever and P&G break digital growth?
What will it take to get India's poor broadband penetration to be seen as a problem and not as a condition, thus enabling real, serious e-commerce to take off in India?
'Our network somehow saves 3,000 lives every year, but there's so much more to do, as every death due to shortage of blood is easily avoidable.'
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