Edtech startup Vedantu on Thursday said it is on track to be “IPO-ready” in 18-24 months, and is upbeat about the India market prospects that offer ample headroom for growth. With COVID-19 cases receding and offline learning modes opening up, the blazing pace of growth in online learning has sobered a bit, but the market is still yielding robust growth numbers, it said.
The company said that as much as 90-95 per cent of the market remains unpenetrated, offering massive scope for edtech players to expand.
Vedantu said it is adequately funded for now, and does not anticipate fresh funding requirement for the next two years. The company, last year, raised USD 100 million from a clutch of investors, and had entered the coveted unicorn club.
“Within the time frame of 18-24 months we want to be IPO-ready, which means the shape of our P&L (Profit and Loss), our systems and associated processes, we want to be robust and mature in those,” Vamsi Krishna, CEO and co-founder of Vedantu, said at a virtual briefing.
On the IPO plans, Krishna said that the company is looking at a broad timeline of 18-24 months, and “everything seems to be on track for that”.
Vedantu experienced “12 times” growth on its key metrics amid the pandemic. The company now sees “hyper growth”, making way for “growth” post-COVID.
Vedantu on Thursday launched WAVE 2.0, an interactive and engaging classroom, at its event Vtopia.