Practically, an edtech firm that offers immersive learning solutions to students in Classes 6 to 12, has said it will expand its operations to South East Asia and MENA (the Middle East and North Africa) in the next few months.
The startup plans to launch its K-5 product later this year, targeting the student community in the Kindergarten to Class 5 group.
It is also planning to include Social Sciences and English in its offerings, apart from offering the STEM (science, technology, engineering and mathematics) modules.
“We are going to spend about 30-35 per cent of the $14 million that we raised,” Charu Noheria, Co-Founder and Chief Operating Officer of Practically, said in a statement.
“We have recently opened offices in Mumbai and Mohali and is looking to increase its headcount by about 200 in the next one year, taking the total to 500 employees,” she said.
Practically reaches about 21.5 million users and over 40,000 schools and institutions in over 180 countries.
“We are moving towards achieving gross revenues of $10 million in the financial year 2022-23. We are expecting 40 per cent revenue from the domestic market,” she said.
She said the company was planning to raise $30 million in a Series-B round.