AASOKA, an online learning platform founded in 2022 by the MBD group, claims to provide customised education services to K-12 (12th grade) students in schools across the country. AASOKA aims to provide a 360-degree solution, including LMS (learning Management System), ERP (Enterprise Resource Planning), fee management, attendance management, digital content, adaptive tests, homework and assignment creation, learning gap analysis and qualitative/quantitative evaluation of learning outcomes per student, Monica Malhotra Kandhari, managing director, MBD Group, founder, AASOKA, told FE Education. “We have followed a Business-to-Business (B2B) model. We work with schools, providing them with the tools and services they need to upgrade both administrative and teaching processes,” she noted.
In the first year of operation that is FY21, the company claims to have demonstrated its products to more than 1,200 schools, while on-boarded 279 as its buyer of services. It claimed to have retained 90% of schools, that is 251, post the completion of the first year of operations. In its second year of operations that is FY22, the platform claims to have added 1649 schools. The company further claims that, on an average each school has 400 students, who pay for its services. The cost typically ranges between Rs 2,000-4,800 per student. Hence, from each school the company ends up earning anywhere between Rs 8-19.20 lakh. “We’ve till date partnered with 1,900 schools in the second year of operations, aiming to reach around 20,000 schools in the next three years. Our revenue model involves supplying product bags to schools, including books and software services,” she added.
The company’s revenue from operations grew by 449.99% to Rs 52.58 crore in FY23 from Rs 9.5 crore in FY22. as per regulatory filings accessed by business intelligence platform, Tofler. The company reported a net profit of Rs 1.04 crore in FY23 from a net loss of Rs 10.73 crore in FY22. “We charge schools per student, covering the entire collection process, including online services. This ensures that schools have access to all tools it needs without having to pick and choose services,” she noted. She further claimed that the platform’s mobile app has recorded a total of 6.5 lakh users on both the Play Store and App Store.
Furthermore, the platform claims to categorise schools based on the consumption patterns, needs and challenges to provide customisable solutions tailored to specific pockets. “We focus on understanding what the customer wants before creating and offering it to them, setting us apart from those who create a product and ask others to buy it,” Kandhari explained.
