Source | m-economictimes-com.cdn.ampproject.org | Prachi Verma
New Delhi: While companies like Oyo, Zomato and Urban Ladder are trimming their workforce, here is a pack of startups that is on a hiring spree.
UpGrad, Vedantu, Simplilearn, Dronstudy, Udemy and CollegeDekho, all belonging to the ed-tech space, are looking at creating at least 3,000 new jobs, mainly in tech, product and sales, over next year. Some of these are expected to double their headcount.
“What we see now are larger cheque sizes with the ed-tech businesses gaining scale. More mainstream PE funds are making investments leading to the perception that there is a rush of investments in the space,” said Amitabh Jhingan, partner, EY Parthenon International, Education Practice.
This sector has attracted more than $1.5 billion of investments. The most recent investors include Facebook, Tiger Global, Matrix Partners and GGV Capital, which have invested in at least one ed-tech firm like Byju’s, Vedantu, Toddle and Unacademy over last two months.