Ludhiana-based TCY Learning Solutions (P) Ltd is seeking up to USD 10 million over the next year to expand its online teaching programmes in Asia and the Middle East, its founder and chief executive has said.
"We need to raise between USD5 million and USD10 million in new funds in the next six to 12 months as we need to build more robust technology teams - both in Ludhiana and Gurgaon (for our teaching centres)," Kamal Wadhera said on the sidelines of Kaizen & Insead Education Symposium 2014 held over the weekend in Singapore.
"We need very senior people in user experience, data management and other areas such as data security," Wadhera told PTI.
The company wants to expand the scope of its online platform, TCY Analytics, which offers more than 90 exam categories, 25 of which would be added this month.
Wadhera said online teaching demand was strong, with more than 400,000 students joining the company's online platform every year or over 1,000 students every day.
Over 10,000 independent authors, including 1,000 PhDs and scholars, were contributing tutorial content to the TCY Analytics, which was making it more attractive for online learnings to students both in India and overseas including Israel, Vietnam and the Middle East.
TCY was planning to set up its first centre in Dubai, most probably under a franchise or license arrangement with a local partner, he said.
Wadhera said he was also studying options of setting up overseas centres including one in Vietnam.
The Vietnamese have expressed interest in TCY's mathematics and science exam categories.
