Summary – Adda247’s Revenue and Net Loss in FY24
• Backed by Westbridge and Infoedge, offering online courses in over ten regional languages.
• Revenue increased by 88% from Rs 129.65 crore in FY23.
• Net loss reduced by 66% to Rs 101 crore from Rs 296 crore in FY23.
• Provides government exam preparation services for various subjects.
• India’s largest vernacular test preparation portal serving over 50 million students.
Edtech startup Adda247 recorded revenue of Rs 243.39 crore in FY24, an 88% year-on-year increase from Rs 129.65 crore in FY23. It has also reduced net loss by 66% to Rs 101 crore, down from Rs 296 crore in FY23.
Adda247 can help you prepare for any government exam, including banking, railways, SSC study materials, teaching, defense, engineering, UPSC, state PCS, and others.
Adda247 is India’s largest vernacular test preparation portal, serving more than 50 million students from Tier II and Tier III cities nationwide. Adda247, backed by prominent investors such as Westbridge and Infoedge, is on a mission to bring excellent education to the masses by offering online courses for all major exams in over ten regional languages in India.
Nagar and Saurabh Bansal founded the platform in 2016, and it now offers training for positions in public sector banks, government ministries, and railways. They offer live online lectures, on-demand video courses, mock tests, E-books, and books, all of which are geared to certain exams.
“The highest revenue share comes from live classes, contributing almost 70% of the revenue,” he stated. “Generally, demand is spread across regions, but Uttar Pradesh and Bihar contribute almost 30-35% of the revenue.”
By the end of this year, the company hopes to have 1.7 million paid subscribers, up from the current figure of about 1 million.
Thus far, the company has successfully acquired two platforms: StudyIQ, which prepares candidates for the UPSC, in 2021, and Veeksha, which offers AR/VR learning modules, in 2023.
It last received $35 million in 2022, in a deal headed by WestBridge Capital. Google also participated, as did existing backers Info Edge Ventures and Asha Impact. Overall, it has raised $63 million.
CONCLUSION : Adda247, India’s largest vernacular test preparation portal, saw an 88% increase in revenue in FY24 and a 66% reduction in net loss. The platform serves over 50 million students across India, offering online courses in over ten regional languages, aiming to provide excellent education.
