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KSUM-incubating Edtech Startup Interval Earns Rs 17cr Revenue in 2023-24

In Business, News
April 02, 2024

KOCHI:
Edtech startup Interval of north Kerala clocked Rs 17 crore of revenue in 2023-24 within three years since inception, during which the company widened its operation in 30 countries to the benefit of 25,000-plus students.

From what was Rs 2 crore in the opening year and Rs 8 crore after the second, the profile of the 2021-founded company in Malappuram district shows a consecutive annual rise of more than 100 per cent, according to the founders of Interval.

“We are up along a profile of steady growth,” said Ramees Ali, who founded the company with four others: Najim Illyas P., Sanafir O.K., Shibily Ameen and Aslah Thadathil. The firm, incubating under Kerala Startup Mission (KSUM) is based in Areekode, 35 km east of Kozhikode.

Interval adopts one-to-one live tutoring, beating a different path from the usual edtech enterprises. “We ensure that the teacher gives direct lectures to students and ensures individual care to each of them,” points out Ramees.

Currently, Interval has more than 5,000 tutors and 260 other employees. “We are now busy expanding our presence in Europe,” Ramees revealed. Recently, Interval’s corporate office began functioning at Areekode with a workspace of 30,000 square feet.

The just-concluded financial year (2023-24) saw Interval drawing angel investment of Rs 2 crore. Interval also turned out to be the country’s only startup that participated in the Talent Boost program initiated by Finland’s City Council of Helsinki as a global startup conclave to attract experts and investors.

KSUM is Kerala government’s nodal agency established in 2006 for entrepreneurship development and incubation activities in the state.