Mumbai-based BeyondSkool registered a whopping 4.5X rise to Rs 10.4 crore in scale in the last fiscal year with almost all of it coming in from operations. It has previously witnessed a revenue of Rs 2.3 crore in the fiscal year ending March 2022.
Founded by Payal Gaba and Atul Chugh, BeyondSkool is an edtech platform that offers after-school programs for children between the ages of 6 and 15. It provides live interactive online classes in a variety of subjects, including coding, robotics, public speaking, creative writing, and more. Apart from this, it also offers personalized learning plans and feedback on students’ progress.
The four year old platform has raised over Rs 14.5 crore through its first and only funding round, so far. The Seed round was held in early 2021 and was led by Tomorrow Capital.
Post the infusion of its maiden round, co-founder Payal Gaba held close to 28% while investors Lodha Ventures and Tomorrow Capital each held over 19% and 13% respectively. The company’s current valuation stands at Rs 119 crore.
The startups aims to help students amplify their skills through programs that complement the currently education system and claims to be the world’s first IQ+CQ+EQ academy for kids.
Contrary to the scale up in revenue, BeyondSkool’s expenses witnessed a slight drop to Rs 27.45 crore from the preceding fiscal’s Rs 27.6 crore.
The edtech’s major expenses, taking up over 30% of the total expenditure, was advertisement and promotional costs.
The costs of employee benefits and finances followed close behind taking up over 27% and 5% of the expenses incurred in the fiscal year.
As for its losses, the company witnessed a 32% decline to Rs 17.05 crore in FY23 in comparison to FY22’s Rs 25.3 crore. Although still in the negatives, its EBITDA margin improved to -138.21% while its ROCE dropped to 114.71% the same year.