Online tutoring start-up Vedantu plans to roll out a mobile app in a few months to expand to tier-2 and -3 towns, its CEO and co-founder Vamsi Krishna said.
The Bengaluru-based company, which is a marketplace for tutors, was launched in November last year and raised $5 million in a Series A round of funding from Accel Partners and Tiger Global Management in May this year.
“We are using these funds to roll out an app that can work on mobile phones and tablets. The app will be rolled out in a few months,” Krishna told
Founded by IITian friends Vamsi Krishna, Pulkit Jain, Saurabh Saxena and Anand Prakash, the company aims to personalise and democratise learning by getting full-time or part-time tutors on its platform. Tutors can offer live lessons online through its in-house WAVE technology (whiteboard, chat, audio and video technology) which is optimised for low bandwidth connections.
“We aim to provide tutors with incentives, which are not available in an institutionalised set-up. One of the teachers on our platform has made up to ₹98,000 in a month,” he added.
The revenue is shared in 70:30 ratio between the teacher and the company. At present, sessions are available in mathematics and science for classes 6 to 12, but the company aims to expand to other learning categories in the future.
Fund-raising plan“We also plan to raise another round of funding in the second half of next year,” Krishna said.
As of now, 160 active teachers and 2500 active students use the platform. The company has delivered 21,000 hours of learning, Krishna said.