Vedantu, a live-tutoring firm, has raised $42 million in a Series C round led by Tiger Global and WestBridge Capital. Existing investors Accel, Omidyar India, and TAL Education also took part in the round.
“We will use this funding to boost our technology, content capabilities and build the brand and expand our services for learners across India,” said Vamsi Krishna, chief executive officer and co-founder, Vedantu. “This will help us increase our student base, especially from tier-II and -III cities,” he said.
The Bengaluru-based firm provides live online tutoring in K-12 in India, with over a million lifetime learners engaged on its online learning platform. Marking an industry first in introducing artificial intelligence and machine learning in online learning, Vedantu recently unveiled WAVE — a personalised and interactive online learning platform. "This technology enables one teacher to take classes simultaneously for hundreds of students and yet making it very personalised," said Krishna. The Indian education market is expected to almost double to $180 billion by 2020 from $100 billion in 2016, according to consulting firm Technopak.