'VCs conservative on edtech, content firms'

Edtech in India, China not looking good these days, says Coursera CEO

- Shouvik Das

The downfall of Byju's, once a $22 billion giant and India's leading edtech startup, has sent ripples across the tech industry, triggering caution among venture capital (VC) and private equity (PE) funds. This has let to a persistently challenging market, Jeff Maggioncalda, chief executive officer of US-based edtech firm Coursera, said in an interview with Mint.

"How the Byju's crash affected the overall edtech industry depends on the stage each company is at, and where in edtech it caters to. Edtech in India and China are not looking good these days. China had their policy changes, and India has had challenges, too. From during the covid-19 pandemic and now, financing went from as much money as one could ask for at incredibly high valuation, to much higher conservatism," Maggioncalda said.