Indian ed-tech startup Vedantu has raised USD 100 Million as part of their Series D round. The funding was led by US-based investment firm Coatue with participation from existing investors. Rahul Kishore, Managing Director, Coatue will also join Vedantu’s board. With this round, Vedantu’s valuation jumps to $600M making them the second most valued company in the Indian edtech space.
Indian edtech companies have seen record investor interest in 2020, due to increased adoption because Covid-19 pandemic. Vedantu has recorded a growth of 220% during lockdown with more than 2 Mn students attending live classes and teachers delivering 8 Mn+ hours of LIVE classes. With this definitive shift in consumer behavior from offline to online, Vedantu is investing to scale impact, expand into new categories. During the pandemic, Vedantu has entered the early learner segment with the launch of its coding program for 6-12 years called Vedantu SuperKids. The company has plans of launching more programs in this category.
“Vedantu has always believed in the concept of LIVE interactive classes being a superior format for online learning which creates greater learning outcomes. During lockdown, everyone is talking about Live classes and it is the best time for us to drive more adoption and strengthen our brand. On top of adding new categories, we will use the funds to invest into content and technology,” shared Vamsi Krishna, CEO, and Co-Founder, Vedantu.
Started in 2014, Vedantu pioneered interactive teaching in the country. Today, Vedantu is a market leader in K-12 online live tutoring space. It offers live interactive classes to students across grades K1-12, for all major boards and top competitive exams like JEE and NEET.
Rahul Kishore, Managing Director, Coatue said, “Online learning adoption in India is at an all-time high setting a new benchmark for the rest of the world. As we continue to focus on driving high-growth ventures, our investment in Vedantu marks our entry into the Indian EdTech market. This move underlines our strategy to partner with companies that are strategically positioned for high growth & scale. We are excited to partner Vedantu in their next stage of growth.” Coatue is one of the largest technology investment platforms in the world with approximately $18 billion in assets under management.
Image source: Vedantu