Edtech Startup Vedantu Gets INR 8 crore in debt funding
Bengaluru based edtech company, Vedantu has raised INR 9.2 crore in debt including preference funding from Trifecta. According to sources, Vedantu is expected to close $30 million in a funding round. The funding round will be led by Tiger Global Management. This funding to Vedantu would make its pre-money valuation of $100-$110 million. Last year, prior to this, Vedantu raised $16.6 million in a funding round that was led by Omidyar Network. Vedantu is an interactive inline platform where teachers provide lectures to school students. Vedantu has an in-house built technology “WAVE” that helps to create in real time virtual learning environment. Till now the company has more than 500 educators at its platform who have taught more than 1 million hours to more than 9,50,000 students. Vedantu has its customer base in more than 80 cities of India. Soon the company is planning to enter into exam categories like GMAT and GRE.