Invact Metaversity, is set to begin its second innings, post the exit of its founder Manish Maheshwari – the former CEO of Twitter. The university which began operations in this year February with much pomp and show, hit a dead-end due to difference of opinion among founders.”We will introduce courses in new domains such as product management, fintech and business analytics in the span of six to eight weeks,” Tanay Pratap, chief executive officer (CEO), told FE Education Online. Pratap shared that the duration of the first course will be around 45 days.
The company plans to host webinars, podcasts and physical events at college campuses to reach “Our whole idea is to make learners aware about Invact 2.0 and its offering. However, the cost of customer acquisition will be much less,” he said. The new CEO further explained the existing programmes will not be discontinued. Instead, the curriculums for the existing courses will be restructured based on the subject and industry requirements.
Further, the company claims that it is not in rush to raise next round of funds and wil look at initiating the process in the next three to six months; however, it is not in a hurry. “We have sufficient funds to run the company for the next 18 to 24 months,” Pratap elaborated. In February, the company raised $5 million from Arkam Ventures and other investors, thereby valuing Invact Metaversity at $33 million.
Pratap agreed that the difference of opinion among founders, led to a disruption in the company. However, he claimed that under his leadership, the platform will continue to grow as an education-driven platform and not as a business-to-business (B2B) software-as-a-service (SAAS) model. “Our core product is education via metaverse, and the company will continue with my vision of three Cs – curriculum from, for and by; community of students and craft profiles,” he added.