Interactive online tutoring platform Vedantu has raised $24 million as part of its Series C extension round. The funding was led by global venture capital firm, GGV Capital with participation from existing investors.
This was in addition to the $42 million raised by the startup in August. Vedantu’s total fundraise to date stands at $85 million.
“The funds will be utilised to build the brand aggressively, invest in brand leadership and expand into new categories like early childhood from ages 4 to 10 (kindergarten to standard 5), complementing the existing offering,” said Vamsi Krishna, CEO and co-founder, Vedantu.
Krishna added that the spillover of the Series C round is a big validation for not only the company but also the live, interactive model of education that Vedantu offers.
“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, added Krishna.
Krishna said Vedantu currently has over 1.25 million lifetime users on its platform.
An industry first in the use of artificial intelligence and machine learning in online education, Vedantu’s WAVE technology helps capture data from students and teachers and provides measurability about every student’s learning progress as well as enhance the content.
Vedantu’s Series C Funding of $42 million round in August 2019 was led by Tiger Global and WestBridge Capital. Accel, Omidyar India, TAL Education, Prince Maximilian of Liechtenstein & CEO, LGT Group had also participated in that round.
This article was first published on livemint.com