Edtech giant BYJU's to invest $200M on hybrid tuition model expansion
Over the next two years, edtech decacornis aiming to invest $200 million into its hybrid tuition centres, with ambitious expansion targets.
Himanshu Bajaj, Head of Tuition Centres, BYJU's, said, "We have $200 million to invest over the next two years to use in the exponential expansion of the Tuition Centre model. We have now 100 centres in 23 cities, but by December, we will have 500 centres across 190 cities. The next year's expansion plan is not yet frozen."
Bajaj also mentioned that Bengal will remain a key focus area for the edtech company. "We will have 20 centres across Bengal by December 2022 from five centres now, of which 10 will be outside Kolkata," he added.
The company's Tuition Centre programme is designed to create a hybrid online-offline learning system. According to Bajaj, the edtech giant plans to enrol 2.5 to 3 lakh students in the coming years. The model is board-agnostic and is designed for students between Classes 4 and 10. The company-operated centres charge a monthly fee between Rs 3,500-Rs 4,000.
Last year, the edtech giant acquired 33-year-old Aakash Educational Services Ltd. (AESL) in one of India's largest startup mergers and acquisitions. The edtech decacorn paid $1 billion for Blackstone Group-backed AESL, with a focus on improving hybrid learning using AESL's existing infrastructure.
At the time, Founder Byju Raveendran said, "The future of learning is hybrid, and this union will bring together the best of offline and online learning as we combine our expertise to create impactful experiences for students.”