In 2025, Physics Wallah surged with ₹1,940 crore revenue yet net losses surged due to accounting adjustments; Byju’s remains mired in insolvency after dramatic valuation collapse; Unacademy is now “default alive,” cutting cash burn from ₹1,000 crore to ₹200 crore and stabilizing with profitable offline centers.
In 2025, Nykaa leads the beauty e-commerce space with over $975 million in annual revenue (~₹8,000 crore) and strong omnichannel presence. Purplle trails with ₹680 crore in revenue (FY24) but has halved losses. Nykaa remains premium while Purplle dominates value-conscious segments.
Krutrim, Ola’s AI arm, has launched sovereign AI infrastructure, built a multilingual LLM with 2 trillion tokens, and unveiled Kruti, India’s first agentic AI assistant. With $230M backing and public sector partnerships, Krutrim positions itself as India’s answer to global AI leaders, despite cultural and execution challenges.
