2023’s Edtech Sector: From Boom to Gloom?
😰 Once a darling of venture capitalists, edtech now treads on thinner ice. This year’s highlight—or rather, a lowlight—is the absence of any edtech company sealing a venture deal beyond $100 million, a striking descent from the 60+ robust financings in 2021 and 2022.
💫 Amid this shift, Byju’s financial journey stands out. Once crowned with a $22 billion valuation, the Indian giant now grapples with a slashed value of $5.1 billion. But it’s not all shadow and storm. AI-powered platforms are shining spots on this landscape. Vienna’s GoStudent and Massachusetts’ Preply, both making waves in AI-enhanced education, signal a possible turn of the tide, capturing substantial investments.
For an in-depth look into the ebbs and flows of edtech investments and the evolving face of educational technology, delve deeper via the link below. 👌
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