WIISE plans to raise $15 mn

Hyderabad-based company launches online and TV global learning network community platforms.

By Author   |   Published: 21st Apr 2017   9:31 am Updated: 21st Apr 2017   11:40 am
Positive Shift leadership team is bullish on the prospects in skill development space

Hyderabad: Hyderabad-based PositiveShift, a skill development company, which is part of WIISE, has launched WIISE Learning Network that includes both online and TV-based content, built with a seed investment of Rs 5 crore. The company is planning to raise $15 million in the next 6-9 months and is actively in talks with 2-3 private equity investors.

The network includes WIISE Online, WIISE TV, WIISE Connect, WIISE Start and WIISE Junior. It will use the subscription model to generate revenues. The company has skilled 15,000 youth so far in nine States. The company is primarily targeting schools, teachers and management institutions. It is planning to create100 connect centres across 100 smart cities identified in the country where will be used as reading rooms, exam centres and for other related learning purposes.

Unveiling the platform Vijay Ketan Mitra, CEO and founder, PositiveShift said “Whilst our four year work as skill development company, we discovered that – affordable access to good quality learning is the biggest gap in an emerging country like India. WIISE Learning network is a global community that helps anyone to learn anything to achieve personal and professional goals. We are creating an ecosystem where learners can achieve their goals. We offer live classes complementing with technology and applying blended learning”.

Every faculty and students at WIISE platform have access to course information anytime and anywhere. The company plans to offer over 250 courses including seven live virtual classes. It is tying up with universities, business schools and other organisations for certification purpose. It has already tied up with IIM Lucknow and Goa Institute of Management.

Explaining how the learning network is designed to help learners around the world, Vivek Reddy, the chief business officer said “WIISE’s objective is to bring top-rated interactive courses & certifications from across the world through respected Global Academic Institutes and Industry experts to learners of our country. Beyond conventional Online medium, we also plan to launch WIISE TV (Direct-to-home based classes) and WIISE Connect (local connect centres in Tier 2, 3 and 4 cities)”.

WIISE is running an entrepreneurship program for trainers successfully, with 19th batch is about to start in a week’s time. In addition, WIISE is launching five more Live Virtual courses from premier institutes this summer.

On the intellectual property (IP) front, Vijay said the company will own the IP on the platform while there will be joint IP on the content. The learning network will cater to high schools, candidates attempting competitive exams and those pursuing opportunities in the continuous professional learning.

WIISE plans to launch a pilot of the WIISE TV by June this year while the full rollout is expected by September. WIISE has set an online subscription target of 1 million subscribers by 2020 and for WIISE TV a target of 30 lakh subscribers by 2020.

Chanchal Samadder, investor in the company, said “Our business model is suited for India, Students will be able to sign up for a course through fee or subscription mode under 3 models that include free and freemium self-paced courses; and pay per course (the course fee ranges from 5,000 to 1.5 lakh, depending on the type of courses)”.

The company’s StartX programme helps startups. It has been awarded unique Innovation partnership with National Skill Development Corporation (NSDC) and Ministry of Skill Development and Entrepreneurship, Government of India. WIISE is launched and managed by its subsidiary company PositiveShift Technologies Limited, which also has been setup in UK.

The company plans to foray into Nepal, Bangladesh and Sri Lanka besides Dubai and Middle East markets.