Great Learning After BYJU’S, Uber’s Zero-Commission Gambit & More

Life After BYJU’S: A Great Learning

There’s a raging whisper not just in the edtech space but in general too that BYJU’S came, BYJU’S ruled, and BYJU’S killed. But, the fall of the $22 Bn behemoth took its toll on the fortunes of several startups that had looked to flourish aboard the BYJU’S ship — think WhiteHat Jr and EPIC.

Despite BYJU’S downfall, two acquisitions, Aakash and Great Learning, survived to see another day and made significant progress. 

While Aakash Educational Services now has its majority stake with Ranjan Pai’s family office, Great Learning stands with its original founder trio running the show. 

The blessing in disguise for the founders of Great Learning was that they narrowly avoided being caught up in BYJU’S plan to sell it off to clear a part of its $1.5 Bn debt load.

“Great Learning was up for sale at one point. But it didn’t materialise. BYJU’S was to pay a certain amount as a part of the deal. That wasn’t honoured either. So, we took back the equity in response to non-payment of the cash component,” said cofounder and chief executive Mohan Lakhamraju.

The company, instead, managed to scale up operations with learners from over 50 countries. It claims to be profitable since FY24, reporting a net profit of $1.5 Mn during the fiscal and garnering revenues of $118 Mn (up 23% year-on-year) during the fiscal. 

Great Learning’s journey, amid the bankruptcy proceedings at BYJU’S, has been characterised by a deep and singular focus on the business, rather than the corporate governance mess at BYJU’S. 

This has allowed it to explore its full potential, even adopting AI on the way. Locking horns with the likes of Eruditus, upGrad, what’s next for Great Learning — an edtech that has now broken free from the fetters of the decacorn gone rogue. Continue reading…

From The Editor’s Desk

Uber’s Zero-Commission Gambit: The ride-hailing service provider has rolled out a SaaS-based zero-commission model for auto drivers across India. Uber said that it will solely act as a technology platform and have no control over the execution, completion or quality of the rides.

Sirona Comes Home: Deep Bajaj and Mohit Bajaj have bought back the feminine hygiene brand from The Good Glamm Group. The buyback will be financed through the founders’ personal capital and includes the repayment of debts incurred during Sirona’s time under Good Glamm’s ownership.

Tesla’s India Bet In Works: The EV giant has initiated its recruitment plans in India. It has advertised 13 positions on its website for various full-time roles. Tesla has also finalised two locations for its showrooms in Delhi and Mumbai.

Licious’ $2 Bn IPO? The online meat and seafood seller is seeking to list in 2026 at a valuation of more than $2 Bn. The D2C unicorn was last valued at $1.5 Bn in March 2023. Counting the likes of Temasek, 3one4 Capital and IIFL as its investors, Licious has raised $554.22 Mn so far. 

Spyne Pockets $16 Mn: The automotive SaaS startup has secured $16 Mn in a Series A funding round led by Vertex Ventures. Existing investors Accel, Storm Ventures and Alteria Capital also invested in the startup that specialises in AI-powered visual merchandising solutions for auto dealers. 

Singulr Bags $10 Mn: The enterprise AI startup has bagged $10 Mn in a seed funding round co-led by Nexus Venture Partners and Dell Technologies Capital, along with participation from a clutch of senior executives. 

Fractal Slips Into The Red In FY24: En route to its public listing, the SaaS unicorn reported a consolidated net loss of INR 54.7 Cr in FY24 against a profit of INR 194.4 Cr in FY24. Revenue from operations surged to INR 2,196.3 Cr in FY24 from INR 1,985.4 Cr a fiscal ago.

Navi Resumes IPO Journey: The Sachin Bansal-led fintech unicorn has initiated discussions with merchant bankers to launch its IPO in what is its second attempt to go public. Navi first filed a DRHP in 2022 for an INR 3,350 Cr IPO but didn’t go ahead with the offer launch then.

Inc42 Startup Spotlight

Can Raaz Break Taboo Around Men’s Sexual Health

There continues to be a taboo around men’s sexual health issues. Under the fear of getting judged by others, embarrassment and societal pressure, men hesitate to seek help. Urban societies may still be open-minded, but what about smaller towns and cities? 

To address this, Akash Kumar and Harshit Kukreja founded Raaz app in 2023. The Bengaluru-based startup provides evidence-based treatment plans for reproductive health concerns. The app allows patients to book appointments and seek medical attention discreetly.  

The startup offers teleconsultations, medications, diagnostics, counselling, and lifestyle guidance through dedicated doctors and personal health concierges via its platform. It has a major focus on tier-II and tier-III cities. 

In the future, the men’s health platform plans to collaborate with diagnostic providers to develop more treatment options and expand into the fertility space.