Info-tech

Edutech start-up Vedantu raises $42 million in Series C funding

Our Bureau Bengaluru | Updated on August 29, 2019 Published on August 29, 2019

Live online tutoring start-up Vedantu, has raised $42 Million in a Series C funding round led by Tiger Global and WestBridge Capital.

Existing investors Accel, Omidyar India and TAL Education have participated in the round as well. The round also saw participation from Prince Maximilian of Liechtenstein & CEO, LGT group , which is the largest family-owned private banking and asset management group in the world, and the founders of Vedantu. With this round, the total funding raised by Vedantu to date is $60 million.

The funds will be used to establish Vedantu as a top brand in the live online tutoring space in India, scale operations and expand its learner base and deepen investment into tech and content capabilities. Vedantu offers one-to-one and one-to-many tutoring on its platform for students from 6th to 12th grades, offering all major subjects including Maths, Science, Social, English and school boards (CBSE, ICSE, IB). Engaging with learners across 1000+ cities and 30+ countries, Vedantu’s platform sees 15 million unique users accessing free content every month with 1.2 million live hours done to date, with over 500 teachers providing live classes to 150,000 learners per month. While 75 per cent of Vedantu’s users are from Tier 2 and 3 cities, just 10 per cent of its users are paid users.

The start-up recently launched W.A.V.E – a personalised and interactive, one to many online learning platform. W.A.V.E has been granted an IP patent for ‘Measuring the Effectiveness of An Interactive Online Learning System’ that helps teachers in identifying a student’s attention level. The platform helps student-teacher interaction, doubt-solving, participation in gamified quizzes, and customisation of teaching patterns owing to constant feedback. Through all these capabilities Vedantu`s live classes are interactive and engaging as against passive recorded video sessions.

“Traditionally, students have utilised online learning as an afterthought to other forms of academic preparation. At Vedantu we want to turn this around and make live classes a genuine alternative to offline coaching and tuition classes. Today 30 per cent of our students are using Vedantu as their only source of learning and this is just the beginning. Our product is our core differentiator where we offer a full-stack solution with a better quality teacher at affordable prices. We will use this funding towards boosting our technology, content capabilities and to build the brand and expand our services for learners across India,” said Vamsi Krishna, CEO and co-founder, Vedantu.

Published on August 29, 2019
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