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CHENNAI: Edtech platform Vedantu has change into the twenty eighth Indian unicorn in 2021 and the fifth edtech unicorn as the corporate raised $100 million in a series-E spherical that valued it at over $1 billion.
The funding spherical was led by Singapore-based affect investing fund ABC World Asia, and likewise noticed current traders Coatue, Tiger World, GGV Capital, Westbridge, amongst others.
The startup, which presents particular person and group lessons throughout Okay-12 and check preparation segments, was valued at a post-money valuation of round $600 million in funding spherical final yr.
The corporate has reached the unicorn standing amid speculations that it was in talks with edtech chief Byju’s for a sale, a declare that was strongly denied by Vedantu.
Vedantu co-founder Vamsi Krishna denied any discussions with Byju’s for a sale and mentioned that the founding group’s lengthy journey within the training and expertise house was a sign of the affect they wished to create as an organization.
“Now we have been capital environment friendly and our annualised income run fee is at round $65 million — up virtually 3x from final yr,” Krishna mentioned.
The corporate intends to make use of the funds to innovate additional on the stay instructing format and penetrate deeper within the Okay-12 phase by reaching extra college students.
It’s bullish on worldwide alternatives and can be prone to discover a B2B vertical to have interaction extra deeply with faculties because the training sector undergoes large digitisation. It would additionally strengthen product engineering features. Vedantu says it was the primary firm to supply stay on-line lessons as early as 2014 and counts numerous first-time improvements to its identify together with its proprietary stay instructing platform Wave and the 2-teacher mannequin. Vedantu presents tutoring programs to Okay-12 college students in addition to preparation of aggressive exams corresponding to IIT-JEE, NEET, commerce, CBSE and ICSE.
Every month, over 35 million customers entry Vedantu by its app and internet without spending a dime. Its YouTube channel will get 65 million views.
College students additionally entry Vedantu by its devoted Channels on Airtel TV and TATA Sky. Vedantu claims to have catered to over 2 lakh paying college students final yr — a 300% progress over the earlier yr.
The funding spherical was led by Singapore-based affect investing fund ABC World Asia, and likewise noticed current traders Coatue, Tiger World, GGV Capital, Westbridge, amongst others.
The startup, which presents particular person and group lessons throughout Okay-12 and check preparation segments, was valued at a post-money valuation of round $600 million in funding spherical final yr.
The corporate has reached the unicorn standing amid speculations that it was in talks with edtech chief Byju’s for a sale, a declare that was strongly denied by Vedantu.
Vedantu co-founder Vamsi Krishna denied any discussions with Byju’s for a sale and mentioned that the founding group’s lengthy journey within the training and expertise house was a sign of the affect they wished to create as an organization.
“Now we have been capital environment friendly and our annualised income run fee is at round $65 million — up virtually 3x from final yr,” Krishna mentioned.
The corporate intends to make use of the funds to innovate additional on the stay instructing format and penetrate deeper within the Okay-12 phase by reaching extra college students.
It’s bullish on worldwide alternatives and can be prone to discover a B2B vertical to have interaction extra deeply with faculties because the training sector undergoes large digitisation. It would additionally strengthen product engineering features. Vedantu says it was the primary firm to supply stay on-line lessons as early as 2014 and counts numerous first-time improvements to its identify together with its proprietary stay instructing platform Wave and the 2-teacher mannequin. Vedantu presents tutoring programs to Okay-12 college students in addition to preparation of aggressive exams corresponding to IIT-JEE, NEET, commerce, CBSE and ICSE.
Every month, over 35 million customers entry Vedantu by its app and internet without spending a dime. Its YouTube channel will get 65 million views.
College students additionally entry Vedantu by its devoted Channels on Airtel TV and TATA Sky. Vedantu claims to have catered to over 2 lakh paying college students final yr — a 300% progress over the earlier yr.
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