Practically

Practically Foundation Story

Practically is an edtech startup from Hyderabad, India, focused on K-12 STEM education. The company uses advanced technologies like augmented reality (AR), virtual reality (VR), and mixed reality to make learning more engaging and immersive. Here’s a look at how Practically began and the people behind it.

Vision and Early Days

Practically was founded in 2014 with a clear vision to transform the way students learn STEM subjects. The founders aimed to make education more interactive and fun using cutting-edge technologies. From the early days, the focus was on creating immersive videos, interactive AR courses, and 3D simulations to help students understand complex concepts better.

The idea was born out of the need to make education more engaging and effective. The founders saw an opportunity to leverage technology to improve learning outcomes and decided to take the leap. Since its inception, Practically has been working towards making high-quality education accessible to a wider audience.

The early days were marked by intense development and testing of their platform. The team worked tirelessly to ensure that the content was not only engaging but also aligned with the curriculum. This meticulous planning and execution laid the foundation for what Practically is today.

Founding Team Background

The founding team of Practically includes Charu Noheria, Subbarao Siddabattula, and Ilangovel Thulasimani. These individuals brought a mix of educational and technological expertise to the table. Charu Noheria, the COO and co-founder, has been instrumental in driving the company’s growth and strategy.

Subbarao Siddabattula and Ilangovel Thulasimani, with their background in education and technology, played crucial roles in developing the platform’s core features. Their combined experience helped in creating a robust and user-friendly platform that catered to the needs of students and educators alike.

The team’s diverse background and shared vision have been key factors in Practically’s success. They have managed to build a platform that is both innovative and effective in enhancing the learning experience.

Practically Business Evolution

Practically has undergone significant evolution since its inception. From its initial concept to its current state, the company has navigated various challenges and opportunities. Here’s a look at how Practically has evolved over the years.

From Initial Concept to Current State

Initially, Practically focused on developing its AR and VR content to make STEM education more engaging. Over time, the company expanded its offerings to include a wider range of interactive courses and simulations. This expansion was driven by feedback from users and the need to stay ahead in the competitive edtech market.

Today, Practically is a comprehensive edtech platform that offers a variety of educational resources. The platform is designed to be user-friendly, making it accessible to students of all skill levels. The company has also shifted its focus towards the B2B segment, partnering with schools and educational institutions to integrate its platform into their curriculum.

This shift in focus has been strategic, allowing Practically to stabilize its operations and plan for long-term growth. Despite facing challenges such as cash crunches and market fluctuations, the company remains committed to its mission of enhancing education through technology.

Key Growth Milestones

Practically has achieved several key milestones in its journey. Here are some of the notable ones:

• Funding Rounds: Practically has secured funding from investors such as Siana Capital, YourNest Venture Capital, IDFC Parampara, and HNIs. However, the last funding round did not materialize due to macroeconomic conditions.
• User Base Expansion: The platform has seen significant growth in its user base, with a focus on both domestic and international markets.
• Partnerships: Practically has formed partnerships with educational institutions to integrate its platform into their curriculum.
• Product Enhancements: Continuous updates and enhancements have been made to the platform to ensure it remains relevant and effective.
• Restructuring: The company has restructured its business model to focus more on the B2B segment and reduce its B2C operations.

Product Portfolio Expansion

Practically’s product portfolio has expanded significantly over the years. Here are some key additions:

• Immersive Videos: The platform offers a range of immersive videos designed to make learning more engaging.
• Interactive AR Courses: These courses are designed to help students interact with complex concepts in a more hands-on way.
• 3D Simulations: The platform includes 3D simulations that help students visualize and understand complex STEM concepts better.
• Content Bins: Practically allows users to create content bins based on search terms, making it easier to organize and access relevant content.
• Workspace Layouts: The platform offers various workspace layouts for different educational needs, such as Assembly, Editing, Color, and more.

Practically Technology Infrastructure

Practically’s technology infrastructure is robust and designed to support its advanced educational platform. Here’s a look at the core architecture, security framework, and innovations in its industry.

Core Platform Architecture

The core architecture of Practically’s platform is built around providing a seamless and immersive learning experience. The platform leverages AR, VR, and mixed reality technologies to deliver interactive content. This architecture is designed to be scalable and flexible, allowing for easy updates and expansions.

The platform includes features such as content bins, workspace layouts, and 3D simulations, all of which are integrated into a user-friendly interface. This ensures that both students and educators can easily navigate and use the platform without any technical hurdles.

The architecture also supports various devices and operating systems, making it accessible to a wide range of users. This inclusivity is a key aspect of Practically’s strategy to make high-quality education accessible to all.

Security and Compliance Framework

Practically takes security and compliance very seriously. The company has implemented various measures to ensure the security and integrity of its platform. Here are some of the key security practices:

• Data Encryption: Practically uses data encryption to protect user data and ensure it remains secure.
• Endpoint Protection: The company has robust endpoint protection measures in place to prevent any unauthorized access to the platform.
• Role-Based Access Control: Access to the platform is controlled through role-based access, ensuring that only authorized personnel can make changes or access sensitive data.
• Compliance Standards: Practically adheres to various compliance standards, such as those related to educational data protection, to ensure that it meets all regulatory requirements.
• Regular Updates: The platform is regularly updated to address any security vulnerabilities and ensure that it remains secure and compliant.

Innovation in its Industry

Practically has been at the forefront of innovation in the edtech industry. Here are some ways the company has innovated:

• Use of AR and VR: Practically was one of the early adopters of AR and VR technologies in education, making it a pioneer in this field.
• Immersive Learning: The platform’s focus on immersive learning has set a new standard in the industry, making education more engaging and effective.
• Interactive Content: The interactive content offered by Practically has been widely praised for its ability to engage students and improve learning outcomes.
• Global Reach: Practically has expanded its reach to international markets, making its platform accessible to students worldwide.
• Continuous Improvement: The company continuously updates and enhances its platform to stay ahead of the competition and meet evolving educational needs.

Company Market Impact

Practically, an innovative EdTech startup from India, has made a significant impact in the education sector. Here’s a look at how the company has grown and expanded its reach.

User Base Growth

Practically has seen rapid growth in its user base. The app is designed for students in classes 6-12 and offers experiential learning through 3D videos, simulations, and augmented reality (AR). As of now, Practically has benefited over 15,00,000 students and 18,000 teachers across 350 schools[6].The user base growth can be attributed to the engaging and interactive nature of the app. Students find it easier to learn complex concepts through immersive videos and simulations. This approach has led to a significant increase in the number of students using the app, especially during the pandemic when online classes became the norm.Here are some key statistics highlighting the user base growth:

• 15,00,000+ students using the app.
• 18,000+ teachers benefiting from the Practically teacher app.
• 350+ schools across India and the Middle East using the platform[6].

Market Share Expansion

Practically is not only popular in India but also has a strong presence in the Middle East. The company plans to expand its operations further into markets like South East Asia and the US.The expansion strategy includes establishing a footprint pan-India within the next 12 months. This involves increasing the number of schools and students using the app, as well as expanding the content to cover more subjects and curriculum areas.Key expansion plans:

• Pan-India expansion: Targeting schools across India to increase the user base.
• Middle East expansion: Continuing to grow the user base in the Middle East.
• US market entry: Planning to enter the US market in the near future[10].

Financial Inclusion Initiatives

Practically offers a B2B2C model, providing the Practically School Solution, which gives schools and teachers free access to the Practically teacher app. This initiative helps include more schools and teachers in the digital education ecosystem.The free access model ensures that schools with limited resources can also benefit from the app. This has been particularly beneficial during the pandemic, where schools had to shift to online classes quickly.Financial inclusion initiatives:

• Free access for schools: Schools and teachers get free access to the Practically teacher app.
• Support during the pandemic: Over 130 schools used Practically for online classes during the pandemic[10].

Company Financial Journey

Practically has had a strong financial journey, with significant investments and revenue growth.

Revenue Growth Story

Practically's revenue growth is driven by its expanding user base and the increasing adoption of its app by schools. The company has seen a steady increase in revenue as more schools and students use the platform.The revenue growth can be attributed to the company's expansion plans and the increasing demand for digital education solutions. As the company expands into new markets, it is expected to see further revenue growth.Key revenue growth points:

• Increasing user base: More students and schools using the app contribute to revenue growth.
• Market expansion: Entry into new markets like South East Asia and the US will drive further revenue growth[10].

Path to Profitability

While Practically is still in its growth phase, the company is working towards achieving profitability. The path to profitability involves optimizing costs, increasing revenue, and ensuring efficient use of resources.The company's focus on providing a free app to schools helps in gaining traction and building a large user base. This user base can then be monetized through various channels such as premium content and partnerships.Steps towards profitability:

• Optimizing costs: Efficient use of resources to reduce costs.
• Increasing revenue: Expanding into new markets and increasing the user base.
• Monetization strategies: Offering premium content and partnerships to generate revenue[10].

Investment Rounds and Valuations

Practically has secured significant investments to fuel its growth. The company has received a total investment of $14 million from top-notch investors.The latest investment round, a INR380.00M Venture Round, took place on December 15, 2021. This investment has helped the company in its expansion plans and in enhancing its product offerings.Key investment rounds:

• $14 million total investment: From investors like Ncubate Capital Partners, NB Ventures, Earlsfield Capital, and Almoe Group.
• INR380.00M Venture Round: The latest investment round that took place on December 15, 2021[6].

Company Strategic Partnerships

Practically has formed several strategic partnerships to enhance its offerings and reach.

Banking Collaborations

While specific details on banking collaborations are not available, Practically's B2B2C model suggests that the company may partner with financial institutions to support schools in accessing digital education tools.Such partnerships could involve financing options for schools to adopt the Practically app or integrating financial literacy content into the app.Potential banking collaborations:

• Financing options for schools: Partnerships to help schools afford digital education tools.
• Financial literacy content: Integrating financial education into the app[10].

Merchant Partnerships

Practically might partner with educational content providers and other relevant merchants to enhance its offerings. These partnerships could involve integrating additional educational resources or tools into the app.For example, the company could partner with educational publishers to offer a wider range of curriculum-aligned content.Merchant partnerships:

• Educational content providers: Partnerships to offer more educational resources.
• Educational publishers: Integrating curriculum-aligned content into the app[10].

Technology Alliances

Practically has formed technology alliances to improve its app and offer better services. The company uses advanced technologies like AR and 3D simulations to provide immersive learning experiences.Technology alliances:

• AR and 3D simulation providers: Partnerships to enhance the immersive learning experience.
• EdTech platform integrations: Integrating with other EdTech platforms to offer a comprehensive learning solution[6].