Education

Vedantu raises $100 mn in funding

PTI | Updated on July 16, 2020 Published on July 16, 2020

Online live tutoring company Vedantu on Thursday said has raised $100 million (about ₹752 crore) in funding, led by US-based investment firm Coatue.

The series D round, which saw participation from existing investors as well, has pushed Vedantu’s valuation to $600 million, it said in a statement.

Rahul Kishore, managing director of Coatue, will also join Vedantu’s board, it added.

Vendantu said the latest infusion has made it the “second most valued company in the Indian edu-tech space.”

Byju’s -- which is touted as the Indian edu-tech firm with the highest valuation -- had announced raising funds from Bond, a global technology investment firm co-founded by Mary Meeker, at a valuation of $10.5 billion.

Vedantu’s total fundraise has crossed $200 million. The company has raised money from investors including Tiger Global Management, Accel Partners, Omidyar Network, TAL, and WestBridge Capital.

“Vedantu has always believed in the concept of LIVE interactive classes being a superior format for online learning which creates greater learning outcomes.

“During lockdown, everyone is talking about LIVE classes and it is the best time for us to drive more adoption and strengthen our brand as the best destination for LIVE classes,” Vedantu CEO and co-founder Vamsi Krishna said.

He added that apart from adding new categories, the funds will also be invested into content and technology.

Started in 2014, Vedantu offers live interactive classes to students across grades K-12 and also for top competitive exams like JEE and NEET.

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Published on July 16, 2020
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