Educational technology company Infinity Learn, backed by Sri Chaitanya Group, aims to end FY23 with net revenue of Rs 150 crore, due to a net loss of Rs 60 crore, Ujjwal said. Singh, CEO of Infinity Learn at FE Education. The company on Wednesday acquired a majority stake in Wizklub, an online learning platform for $10 million. “So far, we have acquired three companies and have spent a total of $10.5 million. Of this amount, 25% of the fund was invested in FY22 and the remainder in FY22. Internally, through our parent company, we have raised $50 million, which will be used for such investment until June 2023,” he added.
Infinity Learn, which started operations in June 2021, had also previously acquired Teacherr – a digital platform featuring the teacher community and Don’t Memorize – a concept platform for multilingual content. According to Singh, with these acquisitions, we wanted to be able to target a child from the beginning of their journey, up to the 12th grade. The company says that after the acquisition, its learner base grew from 3,000 to 120,000 across the country. The company aims to retain 60% of its users in the next fiscal year.
Currently, the company claims to have a lakh of paying subscribers, who subscribed at Rs 2,800. Based on this, the company claims to have an annual fulfillment rate of Rs 28 crore. “Our subscription packages range from Rs 7,000 to Rs 18,000 per year. The way it works is that first a student takes a test for Rs 299, then we convert it to a pack of Rs 1,500, and then depending on his preference, he goes to the pack of his choice,” he said. -he explains. It also runs quarterly packages.
Its parent company, Sri Chaitanya Group, plans to open 200 schools in northern India. Of these, the company has opened 20 schools in markets such as Punjab, Uttar Pradesh, National Capital Region (NCR). For Singh, hybrid is the way to go, and the company is working on it.