Fusion Klassroom Edutech IPO

Fusion Klassroom Edutech was incorporated in 2016 and operates a hybrid education and skilling platform that combines a subscription-based Education OTT platform with offline learning centres.

The company offers academic coaching, competitive examination preparation (JEE/NEET), professional courses (CA), vocational education and skill-development programmes through B2C, B2B2C, B2B and B2G business models. Its course portfolio covers students from class 6 to 12 as well as learners pursuing courses in artificial intelligence (AI), machine learning (ML), coding, digital marketing, accounting, entrepreneurship and communication skills.

The company operates 30 offline partner centres, 5 AI & ML skill centres and an Education OTT platform offering 129 courses with over 3,300 hours of digital content. As on March 31, 2026, it had 6.59 lakh registered users, 2.67 lakh subscribers, 74,000 active users and 1.52 lakh app downloads. Government partnerships form a key part of its business, with projects executed for the Government of Rajasthan, NSDC, TSSC, MSSDS, Tripura SCERT, PM Shri Schools and Jawahar Navodaya Vidyalaya.

The company follows an asset-light expansion strategy supported by a network of coaching centres, educational institutions, NGOs, distributors and channel partners across Maharashtra, Uttar Pradesh, Rajasthan, Delhi, Gujarat and Punjab. In FY26, online learning contributed 76.4% of revenue, while offline learning accounted for 23.5%. B2B contributed 45.7% of revenue, followed by Channel Partners at 30.1%, B2C at 21.3%, distributors at 2.4% and rest by the NGOs/sponsors. Uttar Pradesh was the largest market, contributing 42.6% of revenue, followed by Maharashtra at 26.7% and Rajasthan at 24%. The company's customer base remains concentrated, with the largest customer accounting for 40.1% of FY26 revenue, while the top five and top ten customers contributed 75.6% and 78.7%, respectively.