An image of edtech universe

This EdTech start-up is India’s newest unicorn

Singapore’s ABC World Asia led Vedantu’s $100 million Series E funding round.

 

Online learning platform

Online learning platform Vedantu has raised $100 million at a valuation beyond $1 billion, becoming the latest Indian startup to reach unicorn status.

Singapore’s ABC World Asia led the $100 million Series E round, with existing investors such as Tiger Global Management, Coatue Management and GGV Capital also participating, Vedantu said in a statement Wednesday.

The Bangalore-based startup becomes the fifth Indian edtech unicorn after Byju’s, Unacademy, UpGrad and Eruditus, and the third to reach the milestone this year. Online education is among industries benefiting as global investors boost their bets on the country’s startup ecosystem.

 

Live-tutoring services

Vedantu launched its live-tutoring services seven years ago, an early entrant into the burgeoning field. It targets 500,000 paid users by March 2022, up from about 200,000 currently, said Vamsi Krishna, co-founder, and chief executive officer.

We pioneered live online tutoring in 2014 when India didn’t even have 4G coverage and struggled for four years before usage picked up,” Krishna said in an interview.

Krishna, 38, and his three fellow founders started Vedantu after shutting an earlier offline teaching venture because scaling it up was difficult.

Indian Institute of Technology

The founders are childhood friends and all graduates of the Indian Institute of Technology.

Vedantu offers live classes to students from 3 to 18 years, augmenting school lessons or helping them to prepare for India’s competitive engineering and medical school entrance exams.

It plans to use the funds to fortify its technology and expand into newer categories, including via acquisitions. Scores of digital learning startups are sprouting in India as the pandemic shut down schools and shuttered after-school classes, prompting a rush online by parents, students and teachers.

Live tutoring hourly

Live tutoring hourly fees range from 100 rupees ($1.35) for a micro-course to 45,000 rupees for a year-long program preparing the student for competitive exams. Vedantu’s current annual revenue run rate is $65 million and the company is projecting a 4.5 times jump in sales for the year ending in March 2022. It has 35 million users.

Learners can also access recorded classes for free through its app and via channels like YouTube and satellite TV. Its newer offerings include classes in public speaking, financial literacy, entrepreneurship and mental wellness.

Never miss a story! Stay connected and informed with Mint. Download our App Now!!

an image of advertise

Follow us on FacebookLinkedin, and Instagram to get timely updates about start-ups
What kind of articles do you want to see on our website. Please mail us at gurvinder@chalgenius.com

You also want to feature your start-ups here. No Worries. Call or Whatsapp at 8910430165. Please click to know more about us

Chalgenius is not just a media site. It creates more business opportunities for you by connecting you with thousands of potential customers, investors, accelerators, and mentors across the country. Come grow your business with us. Contact us at 8910430165 or mail at chalgeniusss@gmail.com for further details.

Get more stuff like this

Subscribe to our mailing list and get interesting stuff and updates to your email inbox.

Thank you for subscribing.

Something went wrong.

Leave a Comment

Your email address will not be published. Required fields are marked *

Join Our Facebook Group

Get more stuff like this
in your inbox

Subscribe to our mailing list and get interesting stuff and updates to your email inbox.

Thank you for subscribing.

Something went wrong.