Mumbai, 9th July 2020.
The Covid-19 lockdown has catalyzed the growth of the EdTech sector in India. Edtech major Meritnation, a part of Aakash Edutech Pvt Ltd (which is a subsidiary of test preparation leader Aakash Educational Services Limited (AESL)) has recorded a stupendous eight fold increase in minutes of live class consumption on its platform for the quarter ended June 2020. The platform also witnessed a five fold growth in questions practiced on the Meritnation platform, that caters to K12 students.
The percentage increase is calculated comparing the user consumption basis the quarter ending March 2020 vis-a-vis quarter ending June 2020. As per data available, over 85% of the live minutes consumed have been for Science and Mathematics subjects, while 70% of the live classes consumed have been by students from Classes 6-10.
Some of the major states contributing to the massive growth in live class consumption of Meritnation are Bihar and Jharkhand registering (13x growth) followed by Andhra Pradesh registering (10x growth), Assam & Tripura (9x growth), Rajasthan (9x) and Uttar Pradesh, Madhya Pradesh, West Bengal and Karnataka (8x growth). The Edtech major has also seen a 10x growth from the Middle East, outside India.
Commenting on the impressive growth, Mr Narasimha Jayakumar, CEO, Aakash Edutech Pvt. Ltd. said, ‘Students are adopting virtual learning in huge numbers owing to the disruption caused due to the outbreak of Covid-19. The increasing number of students which we are receiving everyday clearly show that our students are getting benefited from our teaching and the curriculum we are offering. We will continue to innovate and come up with new courses to enable students get all the help to study from the safety of their home.”
Meritnation is a pioneer in the field of online learning in India having started live classes in 2014. Till date it has over 2.5 crore registered students, 10 million plus app installs and over 47 million tests attempted.
Aakash Educational Services Limited (AESL) acquired Meritnation in January 2020 by entering into a definitive agreement with Info Edge (India) Limited to acquire Applect Learning Systems Private Limited.