Hyderabad-based math edtech startup Bhanzu reported a strong financial turnaround in the fiscal year ending March 2025, with operating revenue rising 3.7 times year-on-year to Rs 109.5 crore. The surge was driven by growing global demand for its experiential mathematics courses for children aged 5–16 and expanding international traction.
Business model and reach
Founded in 2020, Bhanzu delivers experiential and logic-driven mathematics programmes designed to improve cognitive skills and problem-solving. The company says it has trained over 50,000 students worldwide, positioning itself as a specialist provider in the crowded digital-learning segment.
Course sales remained Bhanzu’s primary revenue source in FY25, as parents and schools increasingly adopted online supplemental education. The startup has scaled its offerings across multiple countries, leveraging a curriculum-focused approach to differentiate from broader edtech platforms.
International markets fuel revenue growth
International markets accounted for roughly 69% of Bhanzu’s total revenue in FY25, contributing Rs 75.7 crore — a 4.3-times increase over FY24. India continued to grow as well, generating Rs 33.9 crore and recording nearly threefold year-on-year growth. The mix underscores the company’s strategic emphasis on global expansion alongside domestic market deepening.
Cost profile and controlled spending
Total expenses rose modestly to Rs 193.6 crore in FY25, an 11% increase from Rs 174.4 crore in FY24. Employee benefit expenses, the largest single cost item, fell by 17% to Rs 96.3 crore, largely due to lower ESOP-related charges during the year.
By contrast, sales and marketing spend grew 46% year-on-year to Rs 40.8 crore as Bhanzu ramped up customer acquisition efforts and recruitment to support geographic expansion. Investment in training and hiring also increased as the company scaled operations internationally.
Losses narrow amid stronger traction
Bhanzu reduced its net loss to Rs 79 crore in FY25, a 42% decline from Rs 135.5 crore in FY24. While the company remains loss-making, the improvement reflects higher revenue conversion and tighter cost management as it scales.
At the close of FY25, Bhanzu held Rs 167.5 crore in cash and bank balances, providing liquidity headroom as it pursues further growth in global digital-learning markets.
