Tiger Global, WestBridge Capital leads $42M investment in Indian Startup
Vedantu is a platform which offers one-to-one and one-to-many tutoring in a polished manner; this funding will be used to establish the team as a best-in-education sector.
FREMONT, CA: Indian edtech startup platform Vedantu, a live-tutoring firm, has raised $42 million in a Series C round led by Tiger Global and WestBridge Capital. This investment will prove as an accelerator for the company. It will help Vedantu to spread its online live tutoring sessions to remote areas in the country.
The Bengaluru-based firm provides live online tutoring in K-12 in India, with over a million-lifetime learner engaged in its online learning platform. Vedantu is a knowledge network where any student can tap into a teacher directly, and learning can happen in a personalized way, anytime-anywhere. Vendantu is the first to introduce artificial intelligence and machine learning in online learning. The Indian education market is expected to almost double to $180 billion by 2020 from $100 billion in 2016, according to consulting firm Technopak.
In a recent statement Vamsi Krishna, chief executive officer, and co-founder, Vedantu said, “We will use this funding to boost our technology, content capabilities and build the brand and expand our services for learners across India.” He also added, “This will help us increase our student base, especially from Tier II and Tier III cities.”
Vedantu is considered as the first group to rethink the concept of online tutorials in the country. It has given a new face to the online LIVE teaching model. Vamsi and team are incredibly focused on improving the educational outcomes of students using the extraordinary online offering.
Existing investors Accel, Omidyar India and TAL Education also participated in the round along with Prince Maximilian of Liechtenstein. Vedantu is successfully hosting 15 million users access free content on its platform, and more than 150,000 clients pay for its live tutoring program. Almost 80 percent of users who access Vedantu’s free content are from Tier II and smaller cities, while 55 percent of its paid users are in small towns.
The company is planning to boost activations from Tier II and beyond cities, aided by lowering the average price of its live tutoring classes. Vedantu is hoping an extension in the number of users which will drive profits.