Anandi Schools
No national premium K-12 chain exists in India despite clear demand. First-mover in a fragmented, high-margin market.
The Opportunity
A network of premium K-12 schools with a new-age curriculum, targeting India's growing affluent urban households. Founded by Prachi Pawar — HBS alum and former investor at Peak XV (Surge) — with deep institutional backing in education. Peak XV led the round at a $16M valuation.
The Founders
Prachi Pawar
Founder & CEOHBS alum. Former investor at Peak XV (Surge) — she has been on the other side of the table evaluating education businesses. Her partner founded Master's Union; his family are the promoters of Lovely Professional University, giving her direct access to deep institutional knowledge and networks in Indian education.
The Company
Anandi Schools is building a premium K-12 school network with an international curriculum, emphasising extracurricular excellence and assessments beyond JEE/NEET. The model is asset-light, targeting franchise and partnership expansion across Tier 1 cities. Leading international schools operate at 45–50% EBITDA margins with peak revenues of ₹100Cr+ per school. Parents rarely switch schools once enrolled — making this a high LTV, high retention business.
The Market
Cities like Mumbai, Bangalore, Hyderabad, Pune, and Gurgaon are seeing a surge in ₹2Cr+ housing developments — a leading indicator of premium school demand. The number of ₹60L+ income households is projected to triple over the next decade. Nearly 1 million students go abroad annually, reflecting the growing demand for holistic, internationally benchmarked education.
Competition
Despite clear demand, no large-scale, asset-light, experience-driven premium school chain has emerged in India. The market is dominated by individual institutions with no national brands. This is the first-mover opportunity: the equivalent of what Narayana or FIITJEE did for coaching, but applied to full-stack premium schooling.
Why We Invested
No national chain exists
Despite clear demand, no large-scale, asset-light premium school chain has emerged in India. This is a significant first-mover advantage in an otherwise fragmented market dominated by individual institutions.
Founder-market fit is exceptional
Prachi Pawar is an HBS alum who invested at Peak XV (Surge) — she has evaluated businesses from the investor side. Her family network provides direct access to Indian education institutions at the highest level.
Urban expansion and rising incomes
Mumbai, Bangalore, Hyderabad, and Gurgaon are seeing a surge in ₹2Cr+ housing. The number of ₹60L+ income households is projected to triple over the next decade.
High-return unit economics
Leading international schools operate at 45–50% EBITDA margins with peak revenues of ₹100Cr+ per school. High LTV — parents rarely switch schools once enrolled.
Demand for new learning models
Nearly 1M students go abroad annually. Growing demand for holistic education — international curricula, extracurricular excellence, assessments beyond JEE/NEET.
Best Case
Full capacity achieved within 2–3 years per campus.
13 locations across India and international markets by 2030.
Becomes the leading premium K-12 school brand in India with Ivy League and global university partnerships.
Projected revenues of $280M+ in 10 years with EBITDA margins consistently above 40%.
Key Risks
Scaling challenges due to competition, economic downturns, or regulatory hurdles in accreditation.
Initial enrolment falls short due to ineffective marketing or strong local competition.
Education businesses scale linearly — extended breakeven timeline is the primary risk.
Final Thoughts
Anandi Schools presents a compelling opportunity to build a premium education brand in India. Strong macroeconomic tailwinds, an experienced founder with deep institutional backing, and attractive long-term unit economics make this an asymmetric risk-reward opportunity in a market that has never seen a national brand emerge.
Notable Co-investors
Peak XV (Surge) — $4M lead
Vidit Dugar · Investment Note
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