In a statement, Vedantu said proceeds from the Series C funding round will be used to further market the company as a top brand in India’s live online tutoring space. It also plans to expand its operation and further develop its tech and content capabilities.
The funding round, which comes after the startup raised $11 million in November, was also backed by LTG Group and existing investors Accel, TAL Education, and Omidyar India.
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Vedantu is a platform that provides live online tutorial to K-12 students in India. It earns by charging US$0.70-US$2 for an hour of group session and up to US$8 for private session.
The tutorial covers Math, Science, Social, and English as well as school boards such as CBSE, ICSE, and IB. Since its inception in 2014, Vedantu said it has over 1 million lifetime learners. Its platform sees 15 million users every month and 1.2 million live tutorial hours.
Among others, the Vedantu platform provides a venue for student-teacher interaction and helps students discuss with teachers various subject matters and topics such as gamified quizzes and doubt-solving via an interactive and engaging manner.
Vedantu was founded by Vamsi Krishnaa with Anand Prakash and Pulkit Jain in 2014, taking on the vast opportunity that India’s online education sector is presenting. According to a joint KPMG and Google study, the country’s online education sector is likely to reach US$1.96 billion by 2021, a compounded annual growth rate of 52 percent.
Krishna said Vedantu will further expand its services for students across the country, with the fresh funding from various investors. It will also boost its technology and further build the brand.
With a sustainable business model, Vedantu’s platform has the potential to create impact at a scale, according to Westbridge Capital managing director Sandeep Singhal.