Eruditus grew its revenue nearly three times to around $69 million in the just concluded financial year.
Eruditus, the online education startup, grew its revenue nearly three times to around $69 million in the just concluded financial year. In comparison, Byju’s, India’s largest ed-tech startup, announced that it would plan to close FY19 with revenues of about $200 million.
Byju's is operating largely in the K-12 education segment with millions of users, while Eruditus' business has a far smaller base but much higher paying customers.
Ashwin Damera, Co-Founder of Eruditus, said, “Previously most of our courses were on management topics, but this year we focused a lot on courses in digital, data science and machine learning. That’s where our growth came from. This year we will be focusing a lot on AI, game development and healthcare.”
The Mumbai-based firm earns an average of $3,300 from each student, but is eyeing at introducing new courses in partnership with local colleges at roughly half that cost.
“We want to work with local schools to go into the early career professional segment (people with 3-5 years’ experience). At this level, the affordability is an issue because these people are not earning large salaries,” Damera stated.
He further added, “In percentage terms, while the growth might be lower, in absolute terms we will add more revenue to our topline than the previous fiscal.”