Moulishree Srivastava

With rising customer acquisition costs in core edtech segments like K-12, many startups have begun to chase overseas markets to drive growth.

The latest funding round has quadrupled the valuation of the seven-year-old Whatfix to USD 600 million.

The latest round, which reportedly values GoMechanic at USD 315–320 million, takes the total funding raised by the five-year-old startup to date to USD 55 million.

The number of micro VC funds has increased to 88 in 2020 from a nimble 29 in 2014 in the world’s third-largest startup ecosystem.

The new funding round may delay IPO plans for Flipkart, which was reported to be looking to go public in the US later this year.

Flushed with VC money, not only did edtech startups begin to thrive in India last year, but many of them also started harboring dreams of going global.

Locus plans to use the funds for improving geographical reach as well as building its research and development team to expand its product line.

RedSeer projects the Indian social commerce sector to become a USD 7 billion opportunity by 2025, contributing up to 5% to the total e-commerce market.