Leverage Edu IPO Plans & Rebel Foods Delivery Halt
Two scenes: a business meeting discussing an IPO, and a shuttered quick delivery service storefront.
Key Highlights
Leverage Edu eyes IPO within 12-18 months, targeting $900M valuation. Rebel Foods shuts down QuickiES due to high cash burn. Read the latest business news.
Leverage Edu is making preparations to enter the public markets, initiating discussions with global and domestic investment bankers for a potential in the next 12 to 18 months. The edtech platform is considering raising between ₹2,000 Cr and ₹3,000 Cr through its IPO, with an internal valuation target of $900 Mn (₹8,362 Cr).
Bankers are drawing valuation parallels to high-growth platforms like Zomato and ixigo, citing Leverage Edu’s diversified horizontal stack. By incorporating fintech services, accommodation, and travel insurance into its core application, the company aims to buffer its revenue against the seasonal nature of university intake cycles.
The company reports significant top-line growth and profitability in FY26, with revenue increasing by 112% year-over-year to ₹375 Cr. It has also achieved EBITDA profitability and expanded its user base by over 55,000, bringing the total to over 1.75 Lakh customers.
Despite its growth, Leverage Edu faces potential challenges, including tightening visa regulations in key markets such as the UK, Canada, and Australia. The company may also encounter difficulties in securing its targeted valuation amid geopolitical tensions and market volatility. It must also reassure investors that its marketing expenditures will not negatively impact its EBITDA margins.
In other news, Rebel Foods, a cloud kitchen unicorn, has shut down its quick delivery vertical, QuickiES, due to high cash burn. Sagar Kochhar, CEO of EatSure and head of the QuickiES vertical, has also left the company. QuickiES, which operated in select areas of major cities, delivered food from over 45 brands, including Faasos and Wendy’s, in under 15 minutes. This closure follows similar moves by Swiggy and Zomato, who discontinued their quick food delivery services SNACC and ‘Quick,’ respectively, last year.
Additionally, boAt cofounder Aman Gupta’s new venture, OFF/BEAT, has secured $10.7 Mn in seed funding led by Bessemer Venture Partners. KisaanSay, a direct-from-origin food brand, has raised $3.7 Mn in its Series A round led by AgriSURE to strengthen its supply chain and expand distribution. IPO-bound CureFit has appointed four independent directors, including ex-JP Morgan executive Kalpana Morparia, to its board. Ecoil, a clean energy startup, has secured $2.5 Mn in its Series A round led by Fundalogical Ventures to convert waste cooking oil into biofuel and expand its operations.