Posted on Apr 5, 2021, 2:45 PMUpdated Apr 5, 2021, 2:56 PM
With a population of 1.4 billion highly connected inhabitants, China is leading the way in the digital education sector. Two Chinese start-ups are on the podium of the world’s best valued edtech unicorns, according to a recent Holon ranking. Established in 2012, the Yuanfudao tutoring app dominates the world rankings, with a valuation of more than $ 15 billion. The Chinese platform Zuoyebang, founded in 2015, occupies third place behind the Indian start-up ByJu’s, with a valuation of 10 billion dollars estimated before a new round of funding at the end of 2020.
Like everywhere in the world, Chinese edTech took advantage of the closure of Chinese schools during the pandemic last year. But the Covid-19 was only an accelerator for a sector that was already extremely dynamic. “Social pressure starts from an early age in China and tutoring is a must for children, explains Jean-Dominique Seval, founder of the consulting firm Soo and president of French Tech in Beijing. Education is one of the strategic sectors identified by the Chinese government, both with the desire to create champions of global sizes, but also to provide a solution in remote countryside facing a shortage of teachers. “