K12 Techno Services is an edtech startup that provides education services to schools and educational institutions. The edtech startup announced a 19.8 percent increase in its operational revenue to Rs 429.2 crore in FY24. The startup provides internal service management for uniforms, and transportation, and develops study materials. The sale of these educational services is the company’s primary source of revenue.
The firm also earns income through non-operating services which contributed Rs 18.47 crore. This increased the company’s total revenue by 17 percent to Rs 447.67 crore in FY24. The product sales accounted for 40.01 percent of the total income and increased by 46.5 percent to Rs 171.72 crore in this financial year. This edtech startup provides solutions for curriculum design and school operations.
The startup has secured over 177 million USD across twelve funding rounds since its inception, including $11 million raised during its series B funding round led by Kedaara. The data intelligence platform, tracxn mentioned that the company’s post-money valuation was around 476 million USD in September 2023. The company claims to operate over 90 orchids school branches with six verticles including sparklebox and Eduvate.
The Bengaluru-based startup provides services to various educational institutes. The cost of materials increased by 23 percent and crossed Rs 89.2 crore in FY24. The advertisement cost saw a 20.5 percent decline to Rs 58.86 crore while the depreciation cost increased by 64.4 percent to Rs 58.69 crore in this financial year. The firm’s total expenditure also increased by 8.5 percent and stood at Rs 457.2 crore in the same duration.
The company aims to improve its services and offer innovative edtech solutions to position itself well in the edtech market. The startup posted a 28.2 percent increase in its employee benefits which stood at Rs 173.38 crore in FY24. This cost accounted for 37.92 percent of the overall expenses. The company controlled its losses by 75.3 percent to Rs 9.56 Crore for this financial year.
K12 Techno Service achieved a positive EBITDA of Rs 80.37 crore in the last financial year. The startup also offers e-commerce stores, teacher training, and marketing services. The EBITDA margin stood at 17.95 percent in FY24 while the ROCE was around 1.69 percent in the same duration. K12 Techno Services faces competition from other online education service providers such as ACT, and NSPIRA.
Conclusion :
The edtech startup K12 Techno Services announced a 19.8 percent growth in its revenue from operations to Rs 429.2 crore in FY24. This Bengaluru-based company provides education services and solutions including curriculum design, study materials, and other services to schools. These services and product sales are the firm’s primary sources of revenue.
The company posted a 75.3 percent decrease in its losses to Rs 9.56 crore in FY24. Employee expenses increased by 28.2 percent to Rs 173.38 crore in the same duration. The company has secured over 177 million USD across multiple funding rounds and competes with other education services offering platforms like NSPIRA.
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