Sri Chaitanya enters edtech space with Infinity Learn, earmarks $50M investment
Educational services firm Sri Chaitanya group on Thursday announced its foray into the education technology space with Infinity Learn, earmarking $50 million (about Rs 370 crore) investment for the new venture.
Sri Chaitanya Educational Institutions Founder and Chairman BS Rao said the institute has been mentoring students since last 35 years and given the present situation of COVID-19 pandemic, it is the right time to venture into the edtech space.
"We are entering the edtech segment with decades of experience of delivering knowledge, which is not just limited to textbooks.
"The entire $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 offers students free mock tests so that they can assess themselves and then work further to enhance their knowledge.
"We have hired 100 people for Infinity Learn, including 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.
"Though we have come 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," Sri Chaitanya Co-founder Sushma Boppana said.
She further said Infinity Learn should be able to catch up with established players in the edtech segment in six to 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 entire $50 million will be invested over the next 15-18 months to build digital content, animations and for 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 said that the company expected to acquire one 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.