India’s Vedantu raises $24m Series C extension led by GGV Capital

Vedantu co-founder Vamsi Krishna. Photo: Livemint

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

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.