Live online tutoring start-up Vedantu has raised $24 million from a group of investors including global venture capital firm GGV Capital as part of their Series C extension round.
Taking into account the $42 million the Bengaluru-headquartered company raised in August last year from Tiger Global and WestBridge Capital among others, the company has so far raised $66 million as the part of the series C round. With the fresh funding, Vedantu is looking at expanding to new categories such as kindergarten to standard 5.
“As we continue to grow our student enrolments by 4.5 times year-on-year, we are gearing to invest in brand and entering very strongly in new categories of age group 4-10 years, beyond current customer segments,” said Vamsi Krishna, CEO and co-founder of Vedantu. “We think Vedantu has hit an inflection point with its WAVE product through which teachers with a track record of delivering superior results can offer personalised education to many students at once,” said Hans Tung, Managing Partner at GGV Capital.
Vedantu, which launched its tutoring platform in 2014, offers a technology-driven academic system for predictable learning outcome for all students. Its comprehensive data capture of student’s interaction and live engagement in class and through online testing and assessment, provides capability to draw insights about every student’s learning progress. These insights generated by Vedantu’s AI technology then enable the academic mentors to make corrective interventions for each child to ensure predictable learning outcome improvement. The company, also backed by investors such as Accel and Omidyar India, is present in over 40 countries.