Bidding to become the second listed edtech startup in India, after PhysicsWallah, LetsVenture-backed Klassroom has filed its DRHP with the BSE for an SME IPO. The startup’s public issue will comprise a fresh issue of up to 19.89 Lakh equity shares and an offer-for-sale (OFS) component of up to 4.66 Lakh equity shares. The Mumbai-based startup plans to utilise the net proceeds from the fresh issue to repay or prepay certain borrowings, strengthen its AI/ML tech stack and content development and marketing initiatives. The startup’s cofounders – mother-and-sons trio Alka, Dhruv, and Dhumil Javeri – plan to offload the highest number of shares via the OFS. They will sell up to 3.52 Lakh shares. Besides, angel investors like Deepti Choudhary (selling 28,471 shares), Chandra Prakash Toshniwal (16,040 shares), Utsav Verma (16,000 shares), Arun Deep Bakshi (13,634 shares), among others, will also offload shares via the OFS. Founded in 2016, Klassroom provides a hybrid learning ecosystem comprising 30 offline partner centres and an AI-powered education OTT app featuring over 100 courses for classes 8 to 12. It claims to have a nationwide footprint of over 4 Lakh registered users, 1 Lakh subscribers, and 1 Lakh mobile app downloads. The startup operates… Read MoreInc42 Media
