Tiger Global-backed Scaler, an edtech company based in Bengaluru, significantly reduced its FY24 losses to 138.8 crore rupees (around US$16 million), a 58% drop from the previous year.

The company reduced total expenses by 22.1%, including a 28.6% drop in employee benefits, a 35.7% decrease in advertising costs, and a 72.5% cut in legal charges.

Scaler’s operating revenue increased 21.4% year-on-year to 384.5 crore rupees (around US$44.58 million), driven by strong demand for upskilling courses in AI, machine learning, and data science.

Including interest and non-operating income, total income rose by 20% to 389 crore rupees (around US$45.1 million).

Scaler previously raised US$55 million in series B funding in 2022, backed by Lightrock India, Sequoia Capital India, and Tiger Global.