Vedantu is an edtech platform that provides live classes for grades 6 to 12 and competitive exam preparations with study materials. This online learning platform announced a 20.9 percent increase in operating revenue to Rs 185 crore in FY24. The startup provides a personalized tutoring platform with two-way interaction for exams like JEE and school curriculum. These online tutoring and book sales are the company’s primary source of revenue.
The firm also earns income through non-operating services like interest on deposits. This contributed Rs 14 crore to the total revenue and pushed the overall revenue to Rs 199 crore in FY24. The firm also receives revenue through hostel fees and e-learning projects. However, the net loss was reduced by 57.9 percent to Rs 157 crore in the same duration. The book sales increased by three times to Rs 9 crore in FY24. The company has launched several offline coaching centers for classes 6 to 12 and competitive exams.
The Bengaluru-based startup provides certified tutors from known institutes like IIT Bombay and BITS Pilani. The firm offers flexible-hour and monthly based pricing plans for subscriptions. The online platform uses cutting-edge technologies to create quality content and a seamless learning experience. The legal, information technology, and other expenses declined in FY24. Advertisement cum promotional cost saw a 70 percent decline to Rs 23 crore in the same duration.
Vedantu has secured over 326 million USD across multiple funding rounds since its inception, including 2.3 million USD raised during its mix of equity and debt funding round from Stride Ventures. The company receives its investment from investors including Tiger Global, GGV Capital, Westbridge, and Coatue. This edtech platform provides users with live tutoring classes and instructors with personalized coaching options. The company aims to improve its platform and offer innovative learning solutions to position itself well in the edtech market.
Employee benefits account for 47 percent of the total expenses and decreased by 43.8 percent to Rs 176 crore in FY24. The company managed to control its losses for this financial year through cost-cutting measures. The firm’s total expenditure declined by 33.5 percent and crossed Rs 368 crore in FY24. The EBITDA margin also improved to -51.8 percent while ROCE was around -37 percent in this financial year. Vedantu faces competition from other edtech platforms such as BYJU’S, Physics Wallah, and Top Rankers.
Conclusion:
The edtech unicorn, Vedantu announced a 20.9 percent increase in its revenue from operations to Rs 185 crore in FY24. This online platform provides live classes with study materials for competitive exams and grades 6 to 12 students.
The sale of books and online tutoring services is the firm’s primary source of revenue. The loss also decreased by 57.9 percent to Rs 157 crore in FY24. The employee benefits decreased by 43.8 percent to Rs 176 crore in FY24. The company has secured over 326 million USD across multiple funding rounds.
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