Cloud Wizard eyes net revenue of Rs 15 crore in FY23; aims to focus on CSR | The Financial Express

Cloud Wizard eyes net revenue of Rs 15 crore in FY23; aims to focus on CSR

The firm claims to have clocked a net revenue of Rs eight crore in FY22 on the back of net profit of Rs 56 lakh.

Cloud Wizard eyes net revenue of Rs 15 crore in FY23; aims to focus on CSR
Currently, the company claims to have 2,000 students.

Ed-tech platform Cloud Wizard aims to clock net revenue of Rs 15 crore with a net profit of Rs two crore in FY23,  Pushkar Verma, director, Cloud Wizard Consulting told FE Education. The company aims to focus on segments such as corporate social responsibility (CSR) besides launching customised skill development courses in tier 2 and 3 cities in Q4, FY23. Furthermore, the firm plans to start education consulting services in Australia and America. “We aim to raise a fund of around Rs 15 crore in series-A round in this fiscal,” Verma said. 

Regulatory filing accessed by business intelligence platform Tofler revealed that Cloud Wizard’s total revenue declined 24.29% to Rs 3.4 crore in FY21 from Rs 4.5 crore in FY20. The company’s net profit too narrowed 80% to Rs 8.4 lakh in FY21 from Rs 43 lakh in FY20. The firm claims to have clocked a net revenue of Rs eight crore in FY22 on the back of net profit of Rs 56 lakh. 

Cloud Wizard claims to be an authorised partner of Amazon Web Services (AWS), as a part of which it provides AWS based cloud training services to Information Technology (IT) companies. “The training programmes are offered to professionals as well as students in their final years,” Verma said. According to him, the platform offers direct online classes to students, as well as collaborates with companies to monetise. The average ticket price of the courses is Rs 25,000, Verma added. 

Currently, the company claims to have 3,500 students. In FY23, the firm aims to enrol 10,000 students. “We also plan to collaborate with state governments, Non-profit organisations (NGOs), and colleges to offer our courses,” Verma said. Furthermore, the company plans to launch its curriculum in partnership with the government of Goa, the date of which is yet to be announced.

Also Read: Puri gets India’s second National Model Vedic School, Veda Studies Board constituted

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