Hyderabad-based edtech startup Bhanzu reported robust growth in the fiscal year ending March 2025, with operating revenue rising to Rs 109.5 crore, up 3.7 times year-on-year from Rs 29.4 crore in FY24, driven largely by expanding international demand for its mathematics learning programmes.
Company profile and offerings
Founded in 2020, Bhanzu specialises in experiential mathematics programmes for children aged 5–16, aiming to strengthen logical thinking and cognitive skills. The startup says its courses have reached more than 50,000 students worldwide, reflecting growing adoption of its model across markets.
International markets fuel revenue surge
Bhanzu’s international expansion was a key growth driver in FY25, contributing about 69% of total revenue. International sales generated Rs 75.7 crore, a 4.3-times increase over FY24, underscoring the company’s traction outside India.
Domestic revenue also grew strongly, with India contributing Rs 33.9 crore in FY25—nearly threefold year-on-year—highlighting balanced growth across home and overseas markets.
Spending patterns and cost control
Total expenses for FY25 were Rs 193.6 crore, an 11% rise from Rs 174.4 crore in FY24, indicating measured spending even as the business scaled. Employee benefit expenses, the largest cost component, declined 17% to Rs 96.3 crore, primarily because of lower ESOP-related charges during the year.
Conversely, sales and marketing outlays rose 46% to Rs 40.8 crore, reflecting intensified efforts to acquire users and expand Bhanzu’s global footprint. The company also increased expenditure on recruitment and training to support scaling operations.
Improved losses and liquidity position
Bhanzu narrowed its net loss to Rs 79 crore in FY25, a 42% reduction from Rs 135.5 crore in FY24, signalling improved operational efficiency and stronger revenue traction despite remaining in a loss-making phase.
At the end of FY25, Bhanzu held Rs 167.5 crore in cash and bank balances, providing a buffer as it pursues further expansion amid rising demand for digital and specialised mathematics education.
