Infinity Learn CEO Ujjwal Singh told FE Education that ed-tech company Infinity Learn, backed by Shree Chaitanya Group, aims to end FY13 with a net revenue of Rs 150 crore. The company on Wednesday acquired a majority stake in online learning platform WizClub for $10 million. “So far we have acquired three companies and have spent $10.5 million in total. Of this, 25% of the funds were invested in FY22 and the rest in the current fiscal year. Internally through our parent company We have raised $50 million, which will be used for such investments by June 2023.”
Infinity Learn, which began its operations in June 2021, had also previously acquired Teacherr – a digital platform featuring the teacher community and Don’t Miss – a concept multilingual content platform. According to Singh, with these acquisitions we wanted to be able to target a child right from the beginning of his/her journey to class 12th. The company claims that the acquisition has increased its learner base from 3,000 to 120,000 across the country. The company aims to retain 60% of its users in the next financial year.
Currently, the company claims that it has one lakh paid customers who have subscribed for Rs 2,800. Based on this, the company’s annual run rate is claimed to be Rs 28 crore. “Our subscription packages range from Rs 7,000 to Rs 18,000 annually. The way it works is that first a student takes an exam for Rs 299 and then we convert him into a pack of Rs 1,500 and then based on the preference he moves to the pack of his choice, “he explained. It also runs quarterly packages.
Its parent company, Shree Chaitanya Group, is planning to open 200 schools in the northern part of India. Out of this, the company has opened 20 schools in markets like Punjab, Uttar Pradesh, National Capital Region (NCR). Hybrids are the way forward for Singh and the company is working in that direction.