beGalileo reported 4% rise in revenue in FY24 climbing to Rs 3.02 crore compared to Rs 2.89 crore in FY23.
Founded in 2013 by Avneet Makkar and Vivek Shaurya, beGalileo is a math learning platform focused on developing cognitive, analytical, and problem-solving skills. It also offers WisdomLeap, which provides course content for Science, Social Studies, and Math for grades 1–10 across various curriculums.
The Bangalore-based edtech has raised a total of Rs 19.35 crore in funding over 1 round, in Nov 2021, from a Seed round led by Mumbai Angels and Navneet Tech Ventures. The company currently stands at a valuation of over Rs 40 crore.
Competing with platforms like Cuemath and Lido Learning, the majority shares of the company are held by Navneet Tech Ventures at over 40%. Followed by Avneet Makkar and Manoj Kumar Swain both holding a significant stake in the company.
With the increase in revenue, beGalileo managed to bring down the expenses by 16% in FY24 to Rs 4.80 crore from over Rs 5 crore in FY23. Legal and professional charges made up about 24% of the total expenses. Followed by advertisements and employee benefits costs, each contributing more than 15% towards the expenses of the company.
beGalileo shrunk the losses to Rs 1.91 crore in FY24 compared to the loss of over Rs 2 crore in FY23.
The company’s current EBITDA margin and ROCE though still negative improved to -41.54% and -20.58% respectively.