Gautam Singhania’s edtech startup Singhania Quest+ eyes Rs 15 Cr revenue in FY22
In an exclusive interview with YourStory’s Daily Dispatch, Gautam Singhania, Chairman and Managing Director of the Raymond Group, talks about his latest venture Quest+, an edtech startup he founded early this year.
Gautam Singhania-promoted Singhania Education Services has placed its bet on the edtech space with the launch of Quest+.
The platform, launched in March 2021, offers courses that cover academic and skill-based programs. The Mumbai-based startup aims to reach five lakh students in the short to medium term, and is eyeing Rs 15 crore revenue in FY22.
Quest+ claims to have already onboarded 10,000 paid users, and has clocked 80,000 app downloads in the last four months. The startup said a large part of its growth will be driven by international collaborations and program diversification.
“With the pandemic and the country going into lockdown, the edtech space has been going up. People have realised you need to reach the children where they were because they were not able to come out,” says Gautam Singhania. He adds that it is a big opportunity for them.
The Covid-19 pandemic has forced the country to ramp up its digital infrastructure, which subsequently gave the much-needed boost to edtech.
In terms of funding and growth, edtech startups have attracted investors from across the globe. As stated in the EY-IVCA India Trend Book 2021 report, India’s edtech companies raised over $2.2 billion in 2020, and the sector expects the market size to grow by 3.7 times in the next five years.
Quest+ follows a three-way revenue model -- it will be looking at the B2C and B2B markets with a plan to partner with schools. Content creation would be its third revenue stream where it will offer customised content for educational institutions, explains Singhania.
The competition in the edtech sector has been a lot more intense this year with unicorns like BYJU’S and Unacademy attracting huge investments.
According to Singhania, Quest+ will not be competing with a particular player, and will focus on holistic development in the K-12 space. The app also features a section that provides career counselling.
“Physical geography doesn’t become a limitation for counselling,” explained Singhania, while speaking on the availability of counsellors on the platform. Quest+ will be looking at global collaborations and investment opportunities in the coming years.
Along with academics, in future, Quest+ aims to offer several skill-based programmes, international languages, performing arts, experiential learning, and career development courses.
Edited by Megha Reddy