RISE Plans For Mumbai, Aims To Generate Rs 31 Cr Net Revenue In FY23

RISE, an Ed-tech platform, plans to launch six programs in cybersecurity and digital marketing (ESG), Gaurav Bhatia, the RISE's CEO, told that the new programs would be available by March 2023.

The company also aims to generate a net revenue in excess of Rs 31 crore for FY23. "Currently, we intend to concentrate on product development so can expand. "We will concentrate on revenue starting in FY24," Bhatia stated.

The company claims that it has made Rs 10 crore in net revenue during its first year of operation, FY22. This was despite a net loss of Rs 2 crore. Infrastructural expenditures and product development were the company's major expenses in FY22. Bhatia stated that the average price for the courses was Rs 65,000 per student and that they last between 4 and 11 months. 

The company currently offers programs, including Finance Service, Data Analytics and Machine Learning. In FY22, the company claims that it has enrolled 1.500 students. The platform hopes to reach 9,000 learners in FY23. The firm claims that it has worked with  to provide skill-based courses in order to attract students. Bhatia stated that the firm aims to "connect industries and academia to offer skill-oriented programs to both students and professionals." The firm currently claims to have partnered with three universities: MIT World Peace University, KM Munshi University and Shrie LR Tiwari College of Engineering.