Edtech Sector in Crisis as Covid Curbs Ease

The clouds of danger have started hovering over the Edtech sector too amid the pandemic. The third highest-earning sector in 2021 was the ed-tech sector, but no layoffs are being done in it. Since the beginning of this year, more than 1,400 teaching and non-teaching employees have been fired by Indian ed-tech companies. 

Talking about May, the online tutoring platform Vedantu laid off about 600 employees, which is 7 percent of its total workforce. The ed-tech sector in India emerged as the most funded sector in the year 2021. 

According to a report, this sector raised total funds of $4.7 billion. Whereas, the recent layoffs have worried experts that the sector was in a bubble all the time, which is now beginning to burst. It is worth noting that after the beginning of the Corona pandemic, the process of online learning that started online is continuing. 

There was a tremendous boom in this industry during the Corona pandemic. But now looking at the latest situation, experts are of the opinion that this sector will have to be refocused and its business model will have to be changed.