Ed-tech startup Vedantu has raised $100 million in their Series D round, making it India’s second most valued education technology company.
With the third round of funding in the last 12 months, Vedantu’s total fundraise has crossed $200 million. “The funding was led by US-based investment firm Coatue with participation from existing investors,” Vedantu said in a statement.
Started in 2014, Vedantu has been known for its live interactive teaching in India
With the new round of funding, Vedantu’s valuation has surged to $600 mn.
Started in 2014, Vedantu has been known for its live interactive teaching in India. Vedantu claims that they were the first company to start live interactive teaching in the country.
Based in Bengaluru, the ed-tech company offers live interactive classes to students from K1 to 12. It also provides classes for all board exams and competitive tests including JEE and NEET.
As the education sector has undergone a tectonic shift from offline to online since Covid pandemic, Vedantu has recorded a huge growth of 220% during the lock down period.
According to the company the number of students attending their live classes has crossed 2 mn and the teachers have delivered more than 8 mn hours of live classes.
Exploring the possibilities of Corona crisis, Vedantu is aiming to scale up the activities.
According to Vamsi Krishna, CEO and co-founder of Vedantu, live interactive classes create better learning outcomes for online education
During the Covid pandemic, Vedantu has entered the early learner category with the launch of its coding program for 6-12 years called Vedantu SuperKids.
According to Vamsi Krishna, CEO and co-founder of Vedantu, live interactive classes create better learning outcomes for online education. It’s the best time to position our brand as the best destination for live classes, Vamsi said.
Coatue’s investment in Vedantu marks the US-based company’s entry into the Indian edtech market
Vamsi also added that Vedantu will use the funds to develop content and technology for the best teaching-learning experience.
Coatue’s investment in Vedantu marks the US-based company’s entry into the Indian edtech market. According to Rahul Kishore, managing director, Coatue , “Online learning adoption in India is at an unprecedented rate. Our investment in Vedantu underlines our strategy to partner with companies that are strategically positioned for high growth.”
With the new investment Rahul will also join Vedantu’s board. Coatue is one of the largest technology investment platforms in the world with approximately $18 billion in assets under management.