13 February 2020:
Edtech startup Vedantu has raised $24 million in Series C extension round. The funding was led by global venture capital firm GGV Capital. Existing investors participated in the funding round. This was in addition to the $42 Million raised in August 2019, making this a total of $66 Million round.
Vedantu’s Series C Funding was previously led by Tiger Global and WestBridge Capital in which Accel, Omidyar India, TAL Education, Prince Maximilian of Liechtenstein & CEO, LGT Group also participated.
Vedantu’s total fund raise till date stands at $85 Million.
Hans Tung, Managing Partner at GGV Capital will join Vedantu’s board.
Vamsi Krishna, CEO and Co-Founder, Vedantu said, “Impact at Scale is our singular driver. With a core focus on Learning Experience and Outcomes, the impact that we have had on our learners drives us in our next phase of exponential growth. As we continue to grow our student enrolments by 4.5x year on year, we are gearing to invest in brand and entering very strongly in new categories of age group 4-10 years beyond current customer segments. We are excited to have GGV Capital back us, as a unique VC firm that has backed some of the world’s most successful companies, this is a huge validation for Vedantu. We want to further our mission to make this new format of LIVE Interactive classes the answer to the current engagement gaps in Online education and are very excited about the future.”
Hans Tung, Managing Partner at GGV Capital said, “With GGV’s track record in the EdTech space launched by my colleague Jenny Lee in 2013, we look for teams that deliver technology-enhanced education that fits the local needs. We think Vedantu has hit an inflection point with its WAVE product through which teachers with a track record of delivering superior results can offer personalized education to many students at once. We are excited to partner with Vamsi and the Vedantu team and share GGV’s global expertise and network to help them scale and shape learning outcomes for millions of students in India and beyond.”
Vedantu is a LIVE interactive online learning platform for students. It offers individual and group classes delivered by experienced teachers in a LIVE real-time, virtual learning environment.
(Source – Vedantu)