Muzigal registers 20% month-on-month revenue growth and new customers

Muzigal registers 20% month-on-month revenue growth and new customers

Muzigal, an online music learning platform, reportedly stated that it is registering a month-on-month growth of 20% in terms of new learners and revenue. The company plans to upscale the learning experience at a global level and empower music teachers during these unprecedented times of remote learning.

The platform was launched by Dr. Lakshminarayana Yeluri in July 2020 and currently has over 400 teachers, 120 employees, and over 10,000 learners from around 10 countries. It aims at connecting instructors, students, music enthusiasts, and professional musicians for online lessons.

In February 2021, Muzigal raised funds from Kalaari Capital but the amount was not disclosed. The company stated that it conducted over 40,000 classes across a range of subjects, from western music to Indian classical, in over 20 specializations in musical instruments and vocal categories.

Dr. Yeluri expressed that in India, the overall market for offline music learning is approximately USD 500 million. The company is establishing itself as a leader in the online segment. Muzigal saw massive potential in this sector, which was previously unorganized.

The company initiated its operations in the United States in August 2020 to assist non-residential Indians to learn music online with Indian teachers speaking in authentic, native languages. Over the next four years, Muzigal plans to support around 20,000 music teachers and expand its operations in the United States by September 2021.

Kalaari Captial partner Vamshi Reddy stated that sectors like music are in their initial growth stages but have the potential to grow rapidly. He also said that the company is delighted to collaborate with Dr. Yeluri and has immense confidence in Muzigal to become a leader in the online music learning segment.

On Muzigal, students can learn western and Carnatic music vocals and musical instruments like piano, guitar, keyboard, violin, and sitar among others. The company informed that over 25,000 have admitted for free trial classes to gain the platform experience, while over 10,000 students from 10 countries have enrolled for paid classes. Also, over 1 lakh students have been successfully counseled by Muzigal.