Edtech platforms have emerged as one of those rare sectors, which have seen increased activity and user sign ups. And all of that increased traction is converting into increased investor attention. Online education had already been gaining pace over the past few years, and the ongoing pandemic has aggravated the sentiment.
Vedantu, the edtech platform for students aged 6 and 12, is cashing in on an ever-increased traction. The startup has secured another $7 million as part of its ever extending Series C round. South Korea-based KB Global is the latest investor to have joined Vedantu’s investor list.
Venture debt provider Innoven Capital will also be joining proceedings with an influx of $130,000 capital. With the latest investment, Vedantu is currently valued at $280 million. The edtech platform had previously secured a $42 million funding in August last year, led by Tiger Global and WestBridge Capital. Afterward, Vedantu raked in another $24 million, led by global venture capital firm GGV Capital.
Founded in 2011 by Vamsi Krishna, Anand Prakash, Saurabh Saxena, and Pulkit Jain, Vedantu offers online tutoring for subjects such as mathematics, science, social studies, and English. The platform offers a real-time virtual learning environment named WAVE (Whiteboard Audio Video Environment), a technology built in-house.
Vedantu offers live and interactive courses for students aged between 6 ans 12, with a paid version for specific users. The price for various courses can vary from anywhere between Rs.100 for some specific course to Rs. 50,000 for others(like undergraduate courses).
It also provides students the liberty to choose their tutor of choice. Market-wise, Vedantu competes with the like of BYJU’S, Meritnation, Toppr, UrbanPro, WizIQ, and TutorVista in the Indian edtech scene.