Sri Chaitanya enters edtech space, assigns $ 50M investment
Sri Chaitanya group, an educational services firm announced its entry into the education technology segment with Infinity Learn, allocating USD 50 million investment for the new venture.
Founder and Chairman of Sri Chaitanya Educational Institutions BS Rao stated the institute has been mentoring students for the last 35 years and in the present COVID-19 pandemic, it is the best time to foray into the edtech space.
‘We are entering the edtech segment with decades of experience of delivering knowledge which is not just limited to textbooks.
‘Entire USD 50 million investment that we are making in Infinity Learn is from our internal funds. We have aggressive plans and aim to be a top player in the segment,’ Rao said.
Infinity Learn provides free mock tests to students to help them assess themselves and work on enhancing their understanding.
‘We have hired 100 people for Infinity Learn which includes industry professionals and technical people for building content. We are also partnering with external agencies where we feel we can acquire content without compromising on quality,’ said Sushma Boppana, co-founder of Sri Chaitanya.
‘Though we have come a little late into the edtech space, we are coming with experience of content that can be of help for students. We will be looking for acquisitions to build up our capacities,’ she added.
She further stated Infinity Learn should be able to compete with established players in the edtech segment in 6-12 months.
‘We will keep adding new features every month. In six months, we will be ready for CBSE students to prepare for board examinations,’ Boppana said.
She said the complete USD 50 million will be invested over the next 15-18 months to create digital content, animations, and acquisitions.
Sri Chaitanya Group of Educational Institutions is spread across Telangana, Andhra Pradesh, Tamil Nadu, Karnataka, Delhi, Himachal Pradesh, Jharkhand, and Madhya Pradesh with 7,00,000 learners across schools, colleges, and coaching institutes.
Infinity Learn CEO Ujjwal Singh stated that the company is looking to register 1 million students in the first year of operation.
‘We will allow students to take mock tests for free, to begin with, and then they can build up after their assessment. They only need to register with their mobile number,’ Singh said.
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