The company registered an annual turnover of Rs. 33 crore for the last fiscal year.
By Jaden Paul and Riya R Alex | August 30, 2023
GUVI, an edtech startup that offers online courses in vernacular languages, plans to tap international markets post HCLTech acquisition. It is looking to enter Vietnam, West Asia, Spain and France, S.P. Balamurugan, co-founder, GUVI said.
“GUVI had not taken forward its expansion plans due to scalability issues. We now plan to expand by tapping into HCLTech’s international presence,” Balamurugan said, expecting the turnover to more than double this year.
The edtech, founded in 2014 by ex-PayPal employees, offers technical courses in English as well as vernacular languages like Tamil, Telugu, and Malayalam, among others.
It registered an annual turnover of Rs. 33 crore ($4 million) for the last fiscal. GUVI has focused on learners in the south Indian states so far. Now, it plans to deepen its presence in the north with an upcoming branch in Uttar Pradesh.
“There is still a huge untapped pool of talent in the tier 2 and tier 3 cities, and tapping and enriching that talent is something that we are inclined towards,” Balamurugan said.
GUVI’s expansion plans come at a time when the global edtech market is booming. The market is expected to reach Rs. 24.8 lakh crore ($300 billion) by 2029.