ThinkerPlace clocks revenue of Rs 1.5 crore in FY22, as net loss widened 45.5% to Rs 1.5 lakh

By the end of FY23, the platform aims to partner with more than 20 schools and mark 10,000 users.

The company claims to have a monthly average expenditure of Rs 12,50,000.
The company claims to have a monthly average expenditure of Rs 12,50,000.

STEM (Science, Technology, Engineering, Mathematics) based ed-tech startup ThinkerPlace aims to close FY23 with a 2x increase in its net revenue at Rs three crore, Deepti Sharma, founder, ThinekrPlace told FE Education. The company further claims to have reported a net revenue of Rs 1.5 crore in FY22, on the back of net loss of Rs 1.5 lakh. “We expect 30-32% profit growth in FY23, as our number of partnerships have increased,” Saurabh Tiwari, CEO, ThinkerPlace said. 

Regulatory files accessed by business intelligence platform Tofler revealed that in the first year of operation in FY21, the company’s revenue from operations stood at Rs 17,991, while it posted a net loss of Rs 103,069.  

As a part of its expansion plan, the company aims to launch new products for preschool learners. Prior to this, the platform largely sold products targetted at children between the ages of 6-12 years old. According to Sharma, preschooling is equally important for a child’s development, “hence we aim to launch our products in pre-school segments.”

In FY22, the company claims to have sold 7,500 units of products which includes subscription based modules, STEM kits and laboratory instruments for kids with an average ticket price of Rs 2,360. The company claims to have a retention rate of 10%. According to the firm, last fiscal on an average it spent Rs 12,50,000 in product development, marketing and recruitment. This however does not include the fixed cost borne by the company.  “In FY23, we aim to expand our sales team from 15 to 20 people,” Sharma noted. 

ThinkerPlace claims to monitise through collaboration with schools and selling its products to customers on e-marketing platforms. “70% of the total revenue comes from school partnerships and the remaining 30% comes from customer based products,” Sharma said. Currently, the company claims to have collaborated with eight schools and has 4,000 active users. By the end of FY23, the platform aims to partner with more than 20 schools with an userbase of 10,000.

In May 2022, the company partnered with  Lexicon Schools Pune, Achievers Active High School and Modern School, Delhi to set up STEM-laboratories which include 3D printing, robotics, automation setup, drone laboratories, among others. “We aim to collaborate with international schools. Initially, we started to focus on STEM based education for school going children based on CBSE, ICSE curriculum,” Sharma said. 

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