Bootstrapped edtech startup Myedubag is writing a new chapter in the K-12 segment
As online education becomes the most popular alternative for higher education, the K-12 classrooms are not left far behind. To help children make the most out of it, mother-son duo Anuradha Pradhan and Abhinav Pradhan started Myedubag in 2015. An edtech platform, it focuses on providing an integrated one-stop solution for students in the K-12 segment (kindergarten to Class XII).
The Delhi-NCR startup provides academic and non-academic study material in the form of audio-visual and text content to students to help them learn better.
Registered as IDeserve Education, Myedubag was initially founded by Anuradha (67). Owing to her age, Anuradha handed over the business to her son Abhinav (32) in 2018.
“The name was given believing that everybody is entitled to the best of education. And our platform provides all the learning material required for that,” says Abhinav.
The platform sells textbooks and also provides complementary counselling to students, parents, and teachers. It also allows parents to pay the child’s school fees online. Currently, it has up to 400 students in its platform.
The power duo
A former-teacher and principal, Anuradha has 35 years of experience in the field of education. Prior to joining his mother’s startup, Abhinav worked as a regional sales manager at Orient Black Swan. He has 10 years of experience in selling and marketing educational products.
Sanjeev Gupta, Founder of White Swan Publications, is also part of the team and is one of the Directors.
What’s in the bag?
The startup has partnered with White Swan to publish grammar, general knowledge, and aptitude books. While these books are not any board-specific, Myedubag usually follows the NCERT (National Council of Educational Research and Training) syllabus.
The startup lists these books on its website and distributes them in 80 schools in Haryana, North Delhi, and western Uttar Pradesh.
Besides this, Myedubag also provides academic and non-academic self-learning modules. Academic modules are usually in the form of audio-visuals, PDF learning materials, and live video classes. And in the non-academic side, Myedubag provides language learning content.
“At present, we are providing services in Mandarin, French, and spoken English,” says Abhinav.
All the content is conceptualised by academicians and professionals from IITs, IIMs, and teachers from other schools. The platform is also providing a foundation course for IIT-JEE aspirants.
Myedubag also provides complementary counselling to students, parents, and teachers on career and stress-management, student-teacher and student-parent relationships, among others. The startup has partnered with certified counsellors for the same.
“We aim to make e-learning cost-efficient and less time consuming,” says Abhinav.
Moreover, for children studying in partner schools, Myedubag lets their parents pay the fees online through its website.
Service for the masses
On the platform, one can find books being sold at discounted rates, which vary from title to title. And the e-learning service is provided on a subscription-basis at prices ranging between Rs 500 and Rs 5,000 per year.
“Unlike our competitors, we are not focusing on being a premium company. We want to connect and provide quality education to the masses,” says Abhinav.
According to the founders, the startup acquires its customers and clients by interacting with students and providing sessions at schools, and also through online marketing.
“To sell e-learning, we strategised and partnered with schools as our partners,” Abhinav says.
However, building the brand has been a challenge for team Myedubag, and they are still working on it.
Since inception, Myedubag has partnered with 20 schools to distribute its books, and around 80 schools for the publishing of books. Some of the schools that have partnered with them include Suditi Global School (Manipur), Gargi Girl’s School (Meerut), and Patanjali School (Ghaziabad).
Anupma Saxena, the Principal of Gargi Girl’s School, says, “Myedubag is indeed an excellent learning innovation, very methodically and meticulously crafted by knowledgeable and child-centred educators. It is a boon resource for self and autonomous learning.”
Bootstrapped with Rs 5 lakh, Myedubag initially was only an online platform to sell school books. And its ecommerce model was in testing mode until 2018.
The startup’s operational expenses last year amounted to Rs 20 lakh, and revenue earned from selling books stood at Rs 35 lakh.
However, Abhinav says, “We are not desperate to get funding. But yes, if someone meets our criteria, we will not hesitate in joining hands.”
Myedubag is expecting to generate a revenue of Rs 45 lakh by the end of this year.
According to IBEF, the Indian education sector was estimated at $91.7 billion in 2018, and is expected to reach $101.1 billion this year. In fact, India is now the second-largest market for e-learning after the US.
In this rapidly growing market, Myedubag competes with the likes of shiksha.com, BYJU’s, Unacademy, and ConceptOwl. What makes Myedubag stand apart from its competitors is its affordability, claims Abhinav.
The next course
Apart from providing education material to students, the startup is now planning to provide service to corporate companies, which requires training in non-academic areas like teaching other foreign languages, career road map, spoken English, etc.
“We are also coming up with free psychometric assessment for students,” says Abhinav.
At present, Myedubag is working with 25 educational institutions, and aims to be soon available across India.
(Edited by Megha Reddy)