New Delhi: Edtech company Vedantu announced on Thursday that it expects to be “IPO-ready” in 18-24 months and is optimistic about India’s market prospects, which offer plenty of potential for expansion.
The scorching pace of growth in online learning has slowed a little as COVID-19 cases fade and offline learning modalities emerge, but the business is still producing impressive growth numbers, according to the report.
According to the business, 90-95 percent of the industry is still untapped, giving edtech companies plenty of room to grow.
Vedantu stated that it is now properly funded and does not foresee any further funding requirements in the next two years. Last year, the company collected $100 million from a group of investors, putting it into the coveted unicorn club.
“We aim to be IPO-ready in 18-24 months,” Vamsi Krishna, CEO, and co-founder of Vedantu said at a virtual briefing. “That implies the shape of our P&L (Profit and Loss), our systems and associated procedures, we want to be robust and mature in those.”
Regarding the IPO, Krishna stated that the business is targeting an 18-24 month schedule and that “everything appears to be on pace for that.”
During the epidemic, Vedantu saw a “12-fold” increase in its key metrics. After COVID, the corporation expects “hyper-growth,” which will pave the way for “growth” in the future.
WAVE 2.0, a dynamic and engaging classroom, was launched by Vedantu on Thursday at its Vtopia event.
“The proprietary technology will take learning and performance recognition to entirely new heights. The WAVE (Whiteboard Audio Video Environment) learning platform 2.0 aims to inspire every child, make quality education accessible, and have a large-scale impact in India “In a statement, the company said.
Individual and group sessions are available in the K-12 and test preparation segments at Vedantu. On the app or website, students can enroll in solo or group classes. Classes are offered in an interactive online learning environment in real-time.