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Learning solutions company Teamlease Edtech plans to scale its platform by partnering with universities, building new products, increasing its employee base, and getting more students, while it puts its fundraising and IPO plans in the backseat.
Neeti Sharma, President, and Co-Founder told businessline, “We aim to be India’s largest B2B edtech player and continue to have the largest shareholding in terms of university partnerships. By FY27, we aim to reach the 15 million students mark on the platform.”
Partnerships with universities
Currently, the platform has 5 million students and partnerships with 40 Indian universities across 16 Indian states and works with 5000 corporates in their upskilling and skilling initiatives, and manages over 200 degrees, diplomas, and certificate programs.
In order to scale, the company is looking at partnering with more universities and introducing more products. Sharma said, “ Going forward, we will partner with premium institutes in India, we believe that is a place where a lot of newer programs can be bought in, in a hybrid mode of learning.” In a bid towards the same, it has partnered with IIT Patna for an online apprenticeship program and is in talks with various other institutes.
The platform plans to introduce more products that will aid the reskilling and upskilling needs inline with the evolving tech industry. “Technology is shifting rapidly, all organisations are looking at digitisation and transformation. This generates a huge need for reskilling and upskilling with newer skill needs, and we will be working towards capitalising on this opportunity,” Sharma said.
It also plans to increase its workforce from 350 employees to 450 employees in FY24. It will be hiring across functions and verticals like sales, marketing, etc, said Sharma.
Teamlease Edtech was looking to raise around ₹125 crore previously and was further planning for an IPO, but has now stalled the plan. “We have stalled our fundraising plan considering the current market situation, especially for the edtech industry. We will be restarting towards the end of FY24 and we plan to prepare for an IPO by FY26.” Sharma said. Currently, the company clocks ₹110 crore in revenue and is confident on the back of high market potential to reach ₹1,000 crore around the timeframe of the IPO, Sharma said.
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