RISE plans to enter Mumbai, aims to clock net revenue of Rs 31 crore in FY23

In FY22, the company claims to have clocked net revenue of Rs 10 crore on the back of net loss of Rs two crore.

RISE plans to enter Mumbai, aims to clock net revenue of Rs 31 crore in FY23
The company claims to have enrolled 1500 learners in FY22.

Ed-tech platform RISE plans to enter Mumbai in this November, with the introduction of six programmes in cybersecurity, digital marketing, finance, and environmental social governance (ESG), Gaurav Bhatia, CEO, RISE told FE Education online, adding that the new programmes will be launched by March 2023. Furthermore, the company aims to clock a net revenue of Rs 31 crore in FY23. “Currently we plan to focus on product development inorder to expand. We will focus on revenue from FY24,” Bhatia said.

In the first year of operation in FY22, the company claims to have clocked net revenue of Rs 10 crore on the back of net loss of Rs two crore. He further added that in FY22, the major expenditure of the firm included infrastructural and product development. “The average ticket price of the courses is Rs 65,000 per student with an average course duration of 4-11 months,” Bhatia said. It currently offers programmes including Finance Service, Data Analytics, Artificial Intelligence and Machine Learning, Marketing Research, and Global MBA among others.

The company which started its journey with eight programmes, claims to have enrolled 1.500 students in FY22. In FY23, the platform aims to cross 9,000 learners. Interestingly, in order to acquire students, the firm claims to have collaborated with universities as well as companies to offer skill-based courses. “We aim to connect industries and academia to provide skill-oriented programmes, to both students and working professionals,” Bhatia explained. As of now, the firm claims to have collaborated with three universities, including MIT World Peace University, KM Munshi University, and Shree LR Tiwari College of Engineering.

Currently, RISE is located in Bengaluru  and Hyderabad. “We plan to expand our market and products team in existing locations in FY23,” Bhatia said. The platform claims to have students from companies including Amazon, KPMG, BYJU’S, GoIbibo among others. “We plan to explore opportunities in South East Asia, but it is in an initial phase,” Bhatia added. 

Also Read: Hindustan Online- CODE partners with DADB to offer courses on 5G technology

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