Two-year-old edtech startup Infinity Learn crosses Rs 100 cr revenue

The company's revenue from operations reached Rs 100 cr in 2022-23 compared to just Rs 2.3 crore in 2021-22 and the firm said it has become PAT positive

Infinity Learn, an edtech firm backed by education group Sri Chaitanya, said its revenue from operations reached over Rs 100 crore in FY23 compared to just Rs 2.3 crore in FY22. It has also become a PAT (Profit After Tax) positive company. The firm said it achieved these milestones within two years of operations as the firm was started in 2021.

The firm said this is even more impressive after considering the expense growth of just 2x during this period. The performance across both revenue and expense levels resulted in a PAT level breakeven and reached Rs 20 lakh for the year FY23, compared to a Rs 37 crore loss in the previous year.

The company said it produced 2x results compared to other EdTechs. All of this is possible. The development comes at a time when a growing number of edtech companies are struggling and laying off employees in a bid to conserve cash and focus on profitability amid a funding winter.

“We started Infinity Learn towards the fag end of Covid. In 2021, while learners were growing, there was scepticism around whether online education can deliver results,” said Ujjwal Singh, founding CEO of Infinity Learn by Sri Chaitanya. “From day one we definitely had a goal of generating good business and growth rather than trying 'growth at any cost'. At a time when the industry was struggling with customer acquisition cost, we found ways to reduce it. We decided not to make the mistake that others had made. We also met a lot of founders and learned from them.”

Infinity Learn has now set its sights on integrating the power of vertical AI (for Education) to achieve scalable outcome-based learning. The firm said that 'personalised education' to every learner at an affordable cost can finally be delivered using AI. It will be launching its proprietary solutions soon.

Currently, Infinity Learn has over 750,000 subscribers and 7 million learners accessing content in some form on its platform. The company aims to reach over 50 million learners and 1 million paid learners on its platform by 2025. The plan is also to set up around 50 physical learning centres by that time.

“By 2025, we are aiming to be a Rs 500 crore company,” said Singh. “That's the time when we will push the lever for higher growth and might need a bigger round of funding. But for the next 18-24 months, we would be cautious and focus on responsible growth."

Last year, edtech unicorn PhysicsWallah (PW) reported its standalone operating revenues for the financial year FY22 as Rs 232.48 crore, a nine-fold rise from Rs 24.59 crore in FY21. The firm reported a net profit of Rs 97.8 crore, a surge of 14 times from Rs 6.93 crore in the previous financial year, according to data accessed by business intelligence platform, Tofler. PW's standalone expenses were Rs 103.17 crore, a six-fold increase from Rs 15.36 crore in the previous financial year. In FY22, PW's employees' benefit expenses were Rs 42.18 crore, reporting over a 20 times rise against Rs 2.01 crore in the previous fiscal.