India’s Edtech Startups Regroup as Pandemic Bonanza Fizzles

NEW DELHI—The hottest thing in India’s online-education industry right now is going offline.

After two years of blistering growth, sparked by one of the world’s longest Covid-19 school shutdowns, India hosts an increasingly crowded field of education-technology unicorns. Six have hit the $1 billion valuation milestone since the March 2020 nationwide lockdown. They joined Byju’s, which got there in 2017 and is now the world’s most valuable edtech startup, with a $22 billion price tag after a funding round in March, according to PitchBook Data Inc.