Impacting Competitive Exam Preparation With A Purpose
Singh looks to reach another million paid students this fiscal and earn revenues of $70-$75 million
Ujjwal Singh, CEO and President, Infinity Learn by Shri Chaitanya, helms the fastest growing Indian ed-tech that was founded in 2021. On how they are impacting the USD $15 billion ed-tech industry Singh says, "Don't know how, but we are looking at how children are learning. We are very hopeful that this year some of our students will crack JEE and NEET and that will be the biggest impact which we can create in the lives of young learners who are in tier II/III cities."
"In less than 10 months we have 1,500 freelance faculties working for us; we got the 'Great Place to Work as Organisation' award. In a short span, we have built a culture of respect for each other. We are often told, we are aligned with the purpose and it is to make an impact to provide people a job; to make learners better, wherever they are. We want to have the parents trust; to be that one ed-tech that delivers, no matter what the problem is".
On their model, Singh says, "We are a funded start-up, but we largely sell subscriptions of three kinds. Our flagship product is 'Ultimate' for JEE and NEET one-year, live class, where most of our revenues come from. Our second product is 'Pro Plus', which is where we sell tablets and give canned content where internet is not required and children can learn on their own. Our third model is the 'Test Prep' model which is purely taking tests with lots of students appearing for JEE/NEET examination."
Infinity Learn also works with 300 underprivileged children in Nuh (earlier Mewat), near Gurugram. The children have received training for state level medical exams.
On the sustainability factor of their business, says Singh, "So, I think in ed-tech there are two critical parts. One is the cost of student acquisition, and the second is the service delivery cost. Together they make the business sustainable or not sustainable. So, because we work B2C and also B2B, our cost of student acquisition is still very manageable. Even if tomorrow everything is open, we will be able to sustain. Also, we select good faculty and keep the cost of delivery right, so that if a local tutor is teaching, we should be able to provide better tuition at a marginally high cost and that is our USP."
On their growth plans, Singh says, "So we are expecting to go to a million learners by June 2023. We are expecting to earn almost US $70- $75 million revenue by then. We are also looking at a third acquisition, Wizklub for USD $10 million where we will hold the majority stake. Wizklub is a holistic cognitive development ed-tech start-up that builds through its HOTS (Higher Order Thinking Skills) and SmartTech programs. To be launched as 'Infinity Futurz', the vertical will offer K12 foundational skills that will mentor students to hone High Order Thinking Skills such as analytical thinking, complex problem solving, critical thinking, innovation, active learning, and the ability to use technology to solve problems."
· Year of establishment - 2021
· No. of employees - 500+
· Amount of external funding and leading investors – USD $50 million, led Varsity Management.
· Average course fee- Rs. 40,000/year
· No. of students taught - 10,000/day