Bengaluru based edtech startup “Vedantu” raised $42 million
Bengaluru based edtech startup, Vedantu has raised $42 million in a funding round. The funding round was led by New York based Tiger Global Management and WestBridge Capital. Accel, Omidyar India and TAL Education, who are the existing investors, also participated in the funding round. Vedantu provides online live tutoring classes in all major cities across India. “Majority of this fund we are planning to deploy into building awareness about this category and our brand. Investments into our technology and platform will be the second pillar enabled by this round,” said Vamsi Krishna, CEO, Vedantu. Currently, 15 million students access free study material on the Vedantu’s platform while it has a paid user base of 150,000 students. The company aims to expand its product across tier-2 and tier-3 cities that will also lower the average price of its live tutoring classes. The funding would help Vedantu to give tough competition to top giants like Byjus and Unacademy.