Edtech platform 'Practically' aims 10mn active users in 2022

Digital adoption and blended learning are the biggest trends in the edtech space in 2022. According to a report by PGA Labs and IVCA, India's education sector is poised to grow from the current $117 billion to $225 billion by FY25. In an exclusive interview with Bizz Buzz Charu Noheria, co-founder and COO of edtech platform Practically, says, "when we surveyed the Indian K-12 market there were many edtech apps, but there was no solution focusing on experiential learning which can truly revolutionize the way we deliver education today so, we developed Practically as the world's first immersive and experiential one-stop solution that offers everything from immersive content to detailed study material, live classes to coding workshops - all on one platform."

How has Practically evolved?

When we surveyed the Indian K-12 market there were many apps, including some incumbents that offered pinpoint solutions. We arrived at the insight that there is a need for one platform to fulfill all the academic requirements. In addition, there was no solution focusing on experiential learning which can truly revolutionize the way we deliver education today. We developed Practically as the world's first immersive and experiential one-stop solution that offers everything from immersive content to detailed study material, live classes to coding workshops -- all on one platform.

Practically is the only such product in the world that combines a game engine, immersive learning assets, innovative features for personalized learning and AI-assisted study buddy in one compact cross-platform app, focussed on STEM learning. Practically is built on Edgar Dale's 'Cone of Learning' model to enable classrooms with the 'learning by doing' approach and increase retention in students to more than 90 per cent for key subjects like Math and Science. We have tried to make learning more fun and engaging, staying true to the brand proposition of bring learning alive. Recently, we launched the revolutionary #ScanAnything feature becoming the world's first edtech company to do so.

We launched Practically app in April 2020, and as a brand we have grown to 1.5 million downloads at an encouraging pace. In October 2021, we broke into the top 10 education apps in India on the Google Play store, indicative of the growing brand equity.

We have a customized offering for schools and teachers through Practically School Solution. The platform is specially designed to empower teachers and schools. More than 15,00,000 students across India and the Middle East are already benefiting from the engaging content and features on Practically.

What are the challenges or learnings that you faced to grow the company?

Practically is a new-age startup and our experiences have served as learnings over mistakes or failures. I think we should have raised more capital early on. As I often say, the best time to raise capital is when you don't need it, so capital availability does not hinder your growth plans. Some capital should be earmarked for marketing as it is a crucial function and critical for the growth of the business and should be viewed as an investment rather than an expense. We took too long to start investing in the marketing function but ever since we have continued to see the benefits of creating a brand and customer awareness. Another lesson is from hiring - hire a team that has the right combination of passion and hunger just like founders. If you hire a team that gets very comfortable very quickly, they lose the agility needed to grow fast.

What are the prospects for the company in the years to come? What are your strategic plans and way forward in 2022?

While the initial focus was on Andhra Pradesh and Telangana states, Practically has now expanded pan-India and we have added over 150 employees to cater to national sales. Beyond India, the Middle East and SouthEast Asia are markets where we have started to build our teams and have started acquiring early customers. We are also looking to move to a couple of other international markets by the end of next financial year. Additionally, we plan to launch our K-5 product mid of this year. 2022 does look like an exciting year ahead for us and we are confident to acquire a 10 million user base by the end of this year.

How do you see the EdTech industry scenario in 2022? What is the continued relevance of EdTech and is blended learning the new normal?

Digital adoption and blended learning are the biggest trends in the edtech space. The edtech sector has always been ahead of its time. According to a report by PGA Labs and IVCA, India's education sector is poised to grow from the current $117 billion to $225 billion by FY25. We believe that technology adoption in the education sector is yet to peak, and the growth trajectory is likely to continue beyond the pandemic years. Blended learning aptly brings together the best of traditional classroom teaching, online tools and the latest technology. It offers flexible teaching, promotes self and continuous learning ecosystem, experiential education and customized curriculum, helping students to explore and learn beyond their classrooms.

The main objective of edtech platforms should ideally be the empowerment of learners and educators. The Indian education tech industry is capable of causing a paradigm shift in blurring the boundaries that prevent people across age groups and economic backgrounds from gaining access to the best of education and becoming one of the strongest economies in the world.

What is the funding received till date by Practically?

As a startup, we have received tremendous support and are already witnessing a high growth trajectory. In December 2021, Practically secured strategic investment of $5 million from investors such as NB Ventures (UAE), Earlsfield Capital (UK), Almoe Group of Companies (UAE) and Ncubate Capital (the investment arm of The SAR Group). Prior to this, the company has raised $9 million across multiple rounds and brought on some very respected investors like Exfinity Ventures, YourNest Ventures, Siana Capital among others.

So overall, we have received a total of $14 million and are gearing up for our Series B this year. At present, many high-net-worth investors are showing interest and we will be soon announcing key strategic developments in this space.

What challenges are you likely to face and the solutions devised?

Practically is one of the most exceptional immersive learning solutions that carved a niche for itself. We are prepared to suit the needs of learners and educators through our cutting-edge technology and distinctive AI and AR led features. While challenges such as adoption of the blended learning model, outdated or absence of hardware and digital infrastructure in schools, and lack of IT skills among teachers prevail in the industry, we are already working alongside relevant stakeholders to become the most unique and comprehensive product in India and across the globe.

Women have played a key role in education. What is their role in edtech?

Women have made a mark for themselves in the world of education as prominent educators and researchers. Their role in the growth of the edtech sector is also growing at a drastic pace. According to a recent report by Holon IQ, amongst 800 of the world's top edtech startups, 170 were founded or co-founded by women, which is nearly 20 per cent. According to a McKinsey Global Institute report, women account for only 24 per cent of the Indian labour force and generate only 17 per cent of the Indian GDP. Women can play a key role in edtech since 60 per cent of global teachers are women and they have an in-depth understanding of the education ecosystem. With technology making its way into education, the role of a teacher is getting redefined. They no longer need to focus on only delivering curricular content. They can develop powerful lesson plans which are very engaging and interactive and can incorporate blended learning into their teaching methodology. With most of the information, content and assignments and tools available online, teachers act like intermediaries to resolve doubts and give personal attention to maximize student potential.

Digital adoption in the post-pandemic world has opened more avenues for women who are keen to work from home with a flexible setup. Teachers have an option of teaching from home whenever necessary with minimal to no disruptions to class schedules. Talerang Research put forth various metrics establishing the fact that GenZ women outperform men in most capacities. Findings show 85 per cent of women are more flexible vs 69 per cent for men, influencing skills (70 per cent for women vs 56 per cent for men) and time management (89 per cent for women vs 63 per cent for men) making them excellent assets for the fast-paced edtech industry. We at Practically, have more than 33 per cent women workforce, right from engineers to content developers, teachers to doubt resolution experts, saleswomen to customer service reps and more.