Edtech Industry is the next bubble for the venture capitalist. According to a 2016 KPMG report, the EdTech industry in India was worth about $247million and could reach $1.96 billion by 2021.
Brainly founded by Michal Borkowski, Lukasz Haluch, and Tomasz Kraus in Krakow in 2009. The company helps students to connect with their peers to strengthen the problem together. Its ultimate aim is to showcase your skills to improve your skills and make new friends. It has 150M unique users monthly with 2000+ moderator and present in 35+ nations.
The startup has raised $38.5 million (the most recent round being Series B) from seven investors, including Naspers. The firm has reached 15 million users in India in 2 years and is present in over 35 countries, with more than 150 million active users.
While discussing with YourStory, Michal has seen 200 per cent annual growth since it entered India in 2016 and looking for number one spot in India. The company is actively looking for expanding in various countries in the Asia region. It is already present in Indonesia and the Philippines.
He added, “The market is huge in India. People here are more willing to pay for education compared to most other markets; the highest spends from parents’ salaries often go into their children’s education. There is huge pressure on students to succeed. Using Brainly expands their knowledge and reduces frustration”
Brainly also plans to release the content in other local languages, they have recently launched Hindi and will soon launch in Bengali and Kannada.