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Hi readers,
The Indian edtech sector, once a poster child for growth and innovation, is now facing a reckoning. Many startups are experiencing losses, closing their offices, and laying off staff.
The Covid-19 pandemic could be one of the biggest reasons for this, as it led to a surge in demand for online education. But this demand has tapered off as schools and colleges have reopened, prompting many students to return to in-person learning.
One particular sector that has thrived amid these changes is the edtech SaaS sector. The pandemic underscored the importance of digitalization for schools, enabling companies like Campus 365 to achieve impressive revenue growth.
Campus 365, which was bootstrapped until the end of 2021, is now profitable and on track to achieve a 15% profit on its US$1 million revenue target.
With a retention rate of more than 95%, the company has won the loyalty of almost all of its customers and is planning to raise another US$1.5 million as part of a pre-series A round.
— Lokesh Choudhary, journalist at Tech in Asia
Top stories this week
Image credit: Timmy Loen
1️. Profitable Indian edtech startup prioritizes slow growth over hyperscaling
Amid the news of unprofitable edtech giants in India, Campus 365 seems to have built a profitable business.
2. Mapping out SEA’s digital defenders (update)
The region’s cybersecurity sector has seen a decline in investments over the last two years due to a shift in investor appetite.
3. The players pushing the Philippines into the SEA fintech spotlight
GCash and Maya are the dominant players in the country’s payments sector, having secured the highest capital among fintech firms.
4. Maybe Tony Fernandes should just focus on aviation
The tycoon’s digital rebranding exercise for AirAsia Super App may have come a little too late.
5. Foodpanda deal would cement Grab’s market dominance – if regulators allow it
A Grab-Foodpanda entity will have a market share of 90% and above in the Philippines, Malaysia, and Singapore.
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