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Edubridge plans to launch mobile application, eyes net revenue of Rs 70 crore in FY23

The company’s net loss declined 82% to Rs 3.7 crore in FY21 from Rs 20.95 crore in FY20.

Edubridge plans to launch mobile application, eyes net revenue of Rs 70 crore in FY23
The company’s net loss declined 82% to Rs 3.7 crore in FY21 from Rs 20.95 crore in FY20.

Ed-tech platform Edubridge plans to launch mobile applications for students and introduce new courses on Artificial Intelligence and Machine Learning (AI/ML), big data and cloud computing in Q4, FY23, Girish Singhania, CEO, Edubridge, told FE Education Online. “Currently the content is available in web version, and we aim to provide it in native mobile applications,” Singhania said. Furthermore, in FY23, the company aims to clock net revenue Rs 70 crore in FY23.  However, the company declined to provide financial details of FY22 and FY23. “We are in the middle of a fund-raise, hence I cannot provide the exact profit figures presently,” Singhania said. 

Regulatory files accessed by business intelligence platform Tofler revealed that the firm’s total revenue declined 5.1 % to Rs 22.64 crore in FY21 from Rs 23.88 crore in FY20. The company’s net loss declined 82% to Rs 3.7 crore in FY21 from Rs 20.95 crore in FY20. “In FY22, we have closed a net revenue of Rs 35 crores,” Singhania noted. 

The company claims to monetise through collaborations with industry partners, as well as through provision of courses to individual students on its online platform. The firm claims to provide courses on banking and finance, and technology such as AI, ML, Amazon Web Service (AWS) among others. The average ticket cost of the courses is Rs 15,000. “However, the cost varies on duration and course content,” Singhania said. Furthermore, according to the firm, the programmes are designed for 3-4 months, which are taught by industry experts. In FY23 the platform aims to enrol 50,000 students.  

Currently, Edubridge plans to close a fund raise of Rs 120 crore in FY23 for development of products and expansion. “We also plan to open centres in Chennai, Kolkata, Pune and Bengaluru in the current fiscal,” Singhania added. In August, 2022, the company launched its payment  programme Learn and Earn where students can enrol for the course of their interest and avail interest-free, payment plan for upto 15 months. 

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