Vedantu raises $100 million, claims now 2nd most-valued ed-tech company

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Published: July 17, 2020 2:01 AM

Vedantu’s total fund tally stands at over $200 million with the latest funding. Rahul Kishore, MD of Coatue, will join Vedantu’s board, the company said in a statement.

Vedantu’s valuation touched $600 million after the fundraise, making it second most valued company in the ed-tech space, the firm claimed.Vedantu’s valuation touched $600 million after the fundraise, making it second most valued company in the ed-tech space, the firm claimed.

Vedantu on Thursday said it has raised a fresh $100 million in funding led by US-based Coatue. The investment, which is part of the ed-tech company’s Series D round, also saw participation from existing investors.

Vedantu’s valuation touched $600 million after the fundraise, making it second most valued company in the ed-tech space, the firm claimed.

Vedantu’s total fund tally stands at over $200 million with the latest funding. Rahul Kishore, MD of Coatue, will join Vedantu’s board, the company said in a statement.

The pandemic has fuelled adoption of digital learning and virtual classrooms. The need to maintain social distancing has left students across the country banking on online classes to complete their current academic session. While start-ups in general are struggling to find backers, sectors like ed-tech, health-tech and those related to providing essential services are witnessing increased consumer demand and thereby investor interest.

Last month, Byju’s raised fresh funds from US-based Bond, valuing the firm at about $10.5 billion
Launched in 2014, Vedantu offers live interactive classes to students across grades K1-12, for all major boards and top competitive exams like JEE and NEET. The company claims to have recorded a growth of 220% during lockdown with more than two million students attending live classes.

“On top of adding new categories, we will use the funds to invest into content and technology to create the world’s best LIVE teaching-learning experience,” CEO & co-founder Vamsi Krishna said.

During the pandemic, Vedantu entered the early learner segment with the launch of its coding programme for 6-12 years called Vedantu SuperKids. It has plans to launch more programmes in this category.

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