Edtech unicorn LEAD Group is hoping to turn profitable in FY27 r early FY28 as it doubles the pace of revenue growth to about 20%. The firm is planning an IPO by FY28-FY29, though the timeline isn’t a strict one.“ If the business can achieve close to 20% growth in FY27 and continue to improve EBITDA, then we should be in a much stronger position to evaluate the public markets in FY28-FY29,” Mehta said. LEAD Group’s last institutional fundraise was in January 2022, when it closed its Series E round led by WestBridge Capital and GSV Ventures, valuing the company at $1.1 billion.

Sumeet Mehta, co-founder and CEO, LEAD Group told Fe the firm is intentionally balancing immediate earnings with continuous investment in AI and core product R&D to drive the next phase of growth. “In 2024, we shifted from growth-at-all-costs to profitable growth being selective about capital allocation, focusing on ROI of initiatives vs. blind experimentation,” Mehta said. LEAD Group reported Rs 387 crore in revenue from operations in FY26, up10% over FY25 while the EBITDA increased around 7x to approximately Rs 30 crore. 

Scaling AI in classrooms

The edtech firm is focused on scaling its AI portfolio which is beginning to  impact real school environments; the tech stack today gives partner schools options based on their needs. The edtech startup launched Techbook in 2024, an AI-enabled textbook that brings personalised learning to students. It has since scaled this to a revenue rate of Rs 25-30 crore. In 2026, it launched Ms Curie’s Fluento, an AI-tutor-led Spoken English programme which is now being used by 20,000 students across 65 schools. Next year, it will go to 500 schools.

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“The biggest need is to improve learning outcomes in foundational English, Math, and Science. We will continue to innovate in this direction to cover more grades and boards across more schools,” Mehta said. There is also demand for the School Integrated Programs to prepare students for college admissions and entrance exams. “We are building a range of solutions where students can prepare for JEE, NEET, CUET, NDA or CLAT in their school, for an additional fee that is a fraction of coaching class fee,” Mehta said.

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Improving classroom feedback

Ms. Curie is a step in solving the need for English communication skills. Lastly, the firm is helping  teachers teach better. “In a 1:40 class, teachers struggle to provide 1:1 feedback. But with an AI assistant, which we are currently testing, they can check which student is struggling, they can assess exam-sheets faster and with deeper insights and provide feedback in a timely manner,” Mehta said. 

Lead has invested Rs 21 crore to fund its AI initiatives primarily  product R&D and building out these solutions. “The broader approach has been to prioritise internally- generated cash flows for funding growth and strategic investments, while maintaining a disciplined approach to external capital,” Mehta said. The edtech firm is also looking at some attractive mergers and acquisitions opportunities.