Vedantu

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Vedantu
TypePrivate
IndustryOnline Education
Founded2011; 10 years ago (2011)
FoundersVamsi Krishna
Pulkit Jain Saurabh Saxena
Anand Prakash
Headquarters
Bangalore,
,
India
Area served
Worldwide
WebsiteVedantu.com

Vedantu is an Indian online tutoring platform where teachers provide tuitions to students over the internet, using a real-time virtual learning environment named WAVE (Whiteboard Audio Video Environment) a technology built in-house. It operates on a marketplace model for teachers, where students can browse, discover and choose to learn from an online tutor.[1][2][3]

History[]

Bangalore-based Vedantu Innovations Pvt. Ltd. is an online tutoring platform launched in October 2014 for public.[4] The company's name Vedantu is said to be derived from Sanskrit words Veda (knowledge) and Tantu (network).[citation needed] The organization is run by four friends from Indian Institutes of Technology (IITs) – Vamsi Krishna (Co-Founder & CEO), Pulkit Jain (Co-Founder & Head of Product), Saurabh Saxena (Co-Founder & Head of Academics) and Anand Prakash (Co-Founder).[5][6][7] Vedantu is their second venture after Lakshya, a test preparation coaching company.[8] Lakshya was acquired by a public listed company, MT Educare[9] in the year 2012.

In September 2017, it was announced that Vedantu was to host the second edition of International Student League (ISL) in November 2017.[10]

Content[]

It primarily provides services to students of grade 4th to 12th for Indian Certificate of Secondary Education (ICSE) & Central Board of Secondary Education. Currently the company's primary business is live online tutoring in STEM, Hindi, English, Sanskrit, German, French, Environmental Science and Social Science.[11] It uses White board audio video education (WAVE) method for their 1-1 student teacher live sessions. It also claims to provide test preparation courses for Indian Institute of Technology Joint Entrance Examination (JEE) Foundation, National Talent Search Examination (NTSE) and Problem Solving Assessment (PSA).[12]

Funding[]

The firm has raised its first round of funding after six months of current operational format. It has raised $5 million from Accel Partners and Tiger Global Management in its Series A funding.[13][14]

Vedantu plans to utilize the funding in developing technology solutions for tablets and mobile with scalability which can run hundreds of live learning sessions concurrently.[15]

Vedantu has raised $11 million in a Series B funding round led by Silicon Valley impact investment firm Omidyar Network and also contributed by its existing investor Accel Partners.[16]

On August 29, 2019, Vedantu announced that it has raised $42 million in a Series C financing round for expansion in India.[17]

In July 2020, Vedantu raised $100 million in funding led by US-based Coatue. With the latest funding, Vedantu's total fund tally stands at over $200 million.[18] A year ago, Vedantu had raised $100 million at a post-money valuation of over $500 million, according to Fintrackr calculation. [19]

Acquisitions[]

Vedantu has acquired 2 organizations.

  • In February 2021, Vedantu made its first acquisition by acquiring Instasolv in an undisclosed deal.[20]
  • In July 2021, it invested in AI-enabled learning platform Pedagogy.[21]

See also[]

References[]

  1. ^ Jain, Samiksha (10 September 2015). "IIT alumni e-learning venture Vedantu eyes 300% growth in coming years". Entrepreneur. Retrieved 5 October 2017.
  2. ^ Babu, Anita (7 May 2015). "Vedantu raises $5 mn from Accel Partners, Tiger Global". Business Standard India. Retrieved 5 October 2017 – via Business Standard.
  3. ^ "Why edtech startups will be the next to top the class - Gadgets Now". Gadget Now. 7 August 2015. Retrieved 5 October 2017.
  4. ^ Nandi, Kathakali (6 September 2015). "Choose your teacher on this online portal". The Hindu. ISSN 0971-751X. Retrieved 5 October 2017.
  5. ^ Poovanna, Sharan (14 October 2015). "An online platform that makes education more personalized". livemint.com/. Retrieved 5 October 2017.
  6. ^ Babu, Anita (7 May 2015). "Vedantu raises $5 mn from Accel Partners, Tiger Global". Business Standard India. Retrieved 5 October 2017.
  7. ^ "Tech in Asia - Connecting Asia's startup ecosystem". www.techinasia.com. Retrieved 5 October 2017.
  8. ^ "For IIT aspirants, coaching by IITians is at hand - Livemint". www.livemint.com. Retrieved 5 October 2017.
  9. ^ "MT Educare Stock Price, Share Price, Live BSE/NSE, MT Educare Bids Offers. Buy/Sell MT Educare news & tips, & F&O Quotes". www.moneycontrol.com. Retrieved 5 October 2017.
  10. ^ "Vedantu to host second edition of International Student League in November 2017". The Education Post. Retrieved 5 October 2017.
  11. ^ "List of tutors for different subjects at Vedantu".
  12. ^ www.ETtech.com. "Vedantu raises $5 million funding from Accel Partners & Tiger Global - ETtech". ETtech.com. Retrieved 5 October 2017.
  13. ^ Shu, Catherine. "Indian Online Tutoring Platform Vedantu Nabs $5M From Accel And Tiger Global". TechCrunch. Retrieved 5 October 2017.
  14. ^ "Micromax to invest $400 m to pick up stake in 20 start-ups". The Hindu. 8 May 2015. Retrieved 5 October 2017 – via www.thehindu.com.
  15. ^ Ambre, Ashna (7 May 2015). "Tiger Global enters invests in Vedantu". livemint.com. Retrieved 5 October 2017.
  16. ^ "Omidyar leads $11 million funding in live tutoring platform Vedantu". livemint.com. Retrieved 28 December 2018.
  17. ^ "India's Vedantu raises $42M to expand its live and interactive online tutoring platform". TechCrunch. Retrieved 29 August 2019.
  18. ^ "Vedantu raises $100 million, claims now 2nd most-valued ed-tech company". The Financial Express. 17 July 2020. Retrieved 17 July 2020.
  19. ^ "Exclusive: Vedantu seeks $1 Bn valuation in a new round". ENTRACKER. Harsh Upadhyay.
  20. ^ "Vedantu acquires Instasolv, a doubt-solving app – the latest in buzzing edtech acquisitions in India". Business Insider. Retrieved 16 July 2021.
  21. ^ "Edtech startup Vedantu acquires majority stake in Pedagogy". The Economic Times. Retrieved 16 July 2021.

External links[]

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