Good morning, today is actually Thursday (unlike yesterday when I mistakenly said it was). News honestly has been a little light today but we do have another EdTech round being announced with some thoughts by Vedica and I on education as a whole & Amazon looks to bolster up Amazon Pay
➡️ Honestly at this point of the pandemic, I have written about way too many EdTech companies and probably have lost track of how many EdTech companies have raised capital during the pandemic. But Winuall has announced a $2M seed round from Prime Venture Partners, BEENEXT and a handful of angel investors.
➡️ The company, founded in 2019, is a SaaS platform for tutors & coaching institutes and helps them digitize their classes. To me, it looks quite similar to Classplus which has also raised several rounds of capital of funding during the pandemic.
➡️ The company, like others in its sector, has seen great growth with 400% MoM rise in engagement and time spent as well as crossing 2000 tutors and 1.5L students.
➡️ But at the end of the day, it seems like a lot of Indian edtech companies aren't really innovating on the actual education itself but simply taking the same education online. And while this is not meant to reflect on Winuall at all but the EdTech industry as a whole, it is definitely worth something to ponder upon.
2. https://bit.ly/3d6hZjA: Amazon India introduces train ticket booking
➡️ Amazon India has partnered with the Indian Railway Catering and Tourism Corporation (IRCTC) to allow users to book train tickets through Amazon's mobile app directly.
➡️ Amazon is also waiving service and payment gateway charges for now (presumably would make tickets slightly cheaper). Users will be able to check seat availability on the Amazon app and book tickets through the Amazon Pay tab.
➡️ Users will also get an instant refund in case of a cancellation or booking failure if they pay through their Amazon Pay Balance. The company also launched the ability to book flight & bus tickets last year as well.
➡️ This seems like a push by the tech giant to push Amazon Pay to be used by more users. I guess the thought process behind it is that if users use Amazon Pay for paying for multiple services, they are likely to use it a lot more.
➡️ For example, the company added the ability to pay one's credit card bill through UPI or Netbanking on Amazon Pay (Paytm & PhonePe also have this feature), but it looks like Amazon is making a heavy push in the financial services space as the battle on UPI heats up.
Feedback & ❤️ always appreciated BONUS (Tweet of the day): https://twitter.com/vedicakant/status/1313993890613977090
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