Ex-Google Executive Peeyush Ranjan, Mukesh Bansal Launch AI-First Edtech Startup Fermi

Seasoned entrepreneur Mukesh Bansal has teamed up with former Google executive Peeyush Ranjan to launch Fermi AI, an AI-first edtech startup aimed at reimagining how school students learn STEM subjects.

Headquartered in Singapore, Fermi is targeting students in India and the United States, positioning itself as an AI-assisted learning platform rather than a conventional answer-providing chatbot. The startup plans to disrupt the edtech space at a time when the sector continues to grapple with a prolonged funding slowdown.

Focus on STEM, Grades 9–12

In India, Fermi will initially offer after-school coaching for students in grades 9 to 12, starting with physics, chemistry and mathematics (PCM). In the US, the platform will focus on Advanced Placement (AP) courses across STEM subjects.

The app has launched in a free-access format for now, with details of its paid rollout yet to be announced. Prior to launch, the company conducted a three-month pilot with 79 students.

Beyond Problem-Solving

Unlike traditional edtech platforms that focus on solving homework problems, Fermi aims to help students understand how to think through problems.

Explaining the philosophy, Ranjan said most AI-powered learning tools today function as direct-answer chatbots. “Fermi acts as an AI-assisted learning platform that guides students through the problem-solving process without giving answers upfront,” he said.

Bansal echoed this view, saying, “Fermi.ai isn’t here to give answers; it’s here to provide the map and the mirror—showing students how they think and giving teachers the visibility to lead them back to the path of mastery.”

Expanding Subjects and Global Footprint

Going forward, Fermi plans to expand beyond PCM by introducing biology for NEET preparation, as well as subjects such as engineering, accounting and data science. The startup also plans to add capabilities that allow students to learn concepts not yet covered in school, rather than limiting itself to after-school support.

The company’s immediate focus will be global expansion, alongside the introduction of new courses and curricula, Ranjan told Inc42.

Backed by Meraki Labs, Funding Yet to Come

Both Bansal and Ranjan are partners at early-stage incubator and venture fund Meraki Labs, which is backing Fermi through advisory support and internal funding. The startup has not raised any external capital so far.

“Right now, our job is to prove traction,” Ranjan said. “Once we feel it is time to invest capital to grow it, we will do it.”

Stylus-First, Teacher-Friendly Approach

Fermi is also betting on a stylus-first learning experience, allowing students to write on tablets to replicate pen-and-paper learning—an approach the founders believe improves retention and conceptual understanding.

The platform provides detailed analytics on student performance and learning gaps, enabling teachers to offer more targeted instruction. Fermi plans to partner directly with schools and students to integrate its technology into formal curricula.

Launch Amid Edtech Downturn

Fermi’s launch comes amid a deep funding slump in the edtech sector. According to Inc42’s Annual Indian Startup Trends Report 2025, funding in the sector fell 56% year-on-year to $249 million, an eight-year low.

Despite the downturn, investors are increasingly optimistic about AI-led, niche and outcome-driven edtech models, particularly those that go beyond passive video consumption.

“Education is fundamental to society’s development, and AI is here to stay in students’ lives,” Ranjan said. “Earlier edtech was about access to content. We are building an interactive product, and we feel the timing is right.”

With its AI-first, learning-centric approach, Fermi is betting that the next phase of edtech growth will be driven not by scale alone, but by depth, engagement and measurable outcomes.