Edtech Startup Edept Bags Funding

-Edept helps universities and educational institutions with curated services to offer industry-led programs meeting global job market demands.

-As per the startup, in its first year, Edept has partnered with seven domestic and international institutions and several industry players.

-In 2024 YTD, the Indian edtech sector amassed $215 million funding, indicating a slight rebound from the $321 million raised in 2023. 

Bengaluru-based edtech startup Edept raised $1 million seed funding led by Enzia Ventures and Equanimity Investments. The funding round saw participation from edtech leader Arjun Mohan, along with Canada-based Loyal VC.

Edept helps universities and educational institutions with curated services to offer industry-led programs meeting global job market demands.

Edept plans to use the fresh capital to expand operations, strengthen its workforce, and enhance its proprietary tech platform.

Founded in 2023 by Gaurv Bhatia (INSEAD), Puneet Saxena (IIM Lucknow), and Devendra Nagle (IIM Bangalore), Edept empowers universities and institutions to design and deliver innovative courses that align with global job market demands. The startup focuses on improving employability by bridging the gap between academia and industry, equipping graduates with essential skills for success.

As per the startup, in its first year, Edept has partnered with seven domestic and international institutions and several industry players, positively impacting over 450 students. 

Notably, Rajesh Sehgal (Equanimity Investments) and Namita Dalmia (Enzia Ventures) have praised Edept’s innovative approach to collaboration and career-focused education, emphasizing its potential to build sustainable, outcome-driven models that address the evolving needs of students and the industry.

Overall, the edtech sector is needing a quick resurgence. Its peak 2021 funding momentum has been shattered with many edtech startups shutting down operations and a few adopting omnichannel format. 

As per market intelligence firm Tracxn, in 2024 YTD, the Indian edtech sector amassed $215 million funding, indicating a slight rebound from the $321 million raised in 2023. 

However, this is far from the $4.1 billion the sector raised in 2021. The 2023 figure marked an 87% drop from the $2.4B raised in 2022, reflecting the edtech sector's continued decline.