PlanetSpark (Winspark Innovations Learning) plans to launch an IPO after achieving two consecutive years of profitability and ₹800 crore in revenue.
Backed by Flipkart co-founder Binny Bansal, the firm expects its first profitable year in FY26 and aims to replicate this in FY27.
Edtech firm Winspark Innovations Learning, which owns the online learning platform PlanetSpark, plans to go public after achieving two years of profitability and reaching a revenue of ₹800 crore, a top company official said.
The firm, backed by Flipkart co-founder Binny Bansal, expects to post full-year profitability in the current fiscal and in the successive year as well, Winspark Co-Founder Kunal Malik told PTI.
"IPO has been the vision for us over the last couple of years. Our goal was very simple that we would first turn the company profitable sustainably and demonstrate at least two years of profitability and then go for an IPO at a revenue scale of about ₹800 crores. The first leg of this is almost done because FY'26 is what we are seeing as our first profitable year," he said.
Malik said that the company wants to replicate the performance in the financial year (FY) 2027.
"Once we have achieved that at a revenue scale of about ₹800 crores, we want to go for an IPO. Our total addressable market is limitless because we are also serving international markets. ₹800 crores is the right revenue scale for us to do an IPO and at least two years of profitable performance is something which we are looking at and then take the company public," Malik said.
The company's online platform PlanetSpark help develop soft skills across all age groups, starting from pre-Kindergarten to working professionals.
"About 18% of our learners are from the working professionals category. That is the new market. In the next 6-9 months, we project that this 18% will go up to 22-23%, and eventually this will go up to 30% in the next one and a half years," Malik said.
He said that the company's 80% revenue comes from India and the rest from the overseas market.
"Half of our traction is from tier 2-3, from towns like Meerut and Nagpur where people with a household income of ₹80,000- 90,000 come to us to impart these skills to their kids. The middle-income segment consumers in India see this as a new way to get upward mobility. They understand that in the AI-driven world, communication skills and soft skills will play a massive role in employability going forward," Malik said.
The company used a mix of human and AI led approach for skill training in the ratio of 60 and 40.
"We use AI in a strategic manner. I mean, 40% training is run through AI which substantially improves the engagement and reduces distractions for kids. But if a pure AI-based product, engagement can sometimes be a challenge," Malik said.
The company is now planning to scale up operations in professional learning space with new platform Winspark.ai targeted at professionals with 0 to 15 years of work experience.
Malik said that the company expects to clock gross revenue of ₹145-150 crore in the current fiscal with 65-70% growth compared to the previous fiscal.
The company raised a total of USD 27 million in funding till date from investors which included Bansal, MakeMyTrip founder Deep Kalra and Prime Ventures, he said.
