Stemrobo eyes global expansion, targets to close FY23 with net revenue worth Rs. 70 crores.

Stemrobo eyes global expansion, targets to close FY23 with net revenue worth Rs. 70 crores.

STEMROBO Technologies Private Limited is an educational technology company. The company focuses on leveraging technology in education. The company acts as an enabler for students to learn and innovate in the field of STEAM, Robotics, IoT & Artificial Intelligence( AI).

Stemrobo is working with over 5,00,000 students and teachers, to nurture innovation and creativity at the K-12 level with the help of Stemrobo’s unique custom-designed patented DIY kits, innovative pedagogy, and world-class content, and methodologies delivered through its team of 200+ innovation engineers spread across India.

The company has reported a rise in its profit by 7 times. Stemrobo has recorded a profit of Rs. 2.8 crore in FY22 as against Rs. 34.6 lakh in FY21.

In the next six months, Ed-tech company STEMROBO is going to expand its operations in Nigeria and Cote D’Ivoire in West Africa. Further, the company plans to launch the East Africa chapter in September this year. The focus is on the primary and secondary schools across Kenya and Rwanda. In May 2022 the company started its operations in West Africa. They also launched its programs in 50 primary and secondary schools in Ghana. The company has targeted to reach 250 schools in Ghana by FY23.

The company goals to close FY23 with net revenue of Rs 70 crore and a net profit of Rs. 10.5 crores. There is an increase in net revenue by 108.3% i.e. Rs. 30 crores in FY22 from Rs. 14.4 crores in FY21.

STEMROBO caters to the K-12 segment. The company wants to generate its revenue through annual subscriptions from schools at a minimum guarantee of 250 students. It claims to set up Science, Technology, Engineering, and Mathematics (STEM) based tinkering labs in the schools backed by teacher training, DIY robotic kits, and software. The company has partnered with 2000 schools. And further plan to partner with 5000 schools across India and reach 2.5 million students by the end of next year. 

Furthermore, the ed-tech firm has launched 30 offline centers in India. They also aim to expand through franchise models. The students can use STEMROBO’s offerings through annual subscriptions of Rs. 500.