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Bengaluru-based interactive on-line reside tutoring platform Vedantu has introduced that it has raised $100 million as a part of its Series D financing spherical. The firm stated that the brand new financing spherical was led by US-based Coatue together with participation from present traders as nicely. With this spherical, Vedantu’s valuation has jumped to $600 million, making them the second most valued firm in the Indian Edtech house. Interestingly, Vedantu’s announcement additionally comes at a time when on-line schooling in the nation has been witnessing a major surge amid the Covid-19 disaster. With this sudden shift, consultants have additionally opined that the adoption of on-line studying will proceed to persist in the post-COVID world.
“Vedantu has always believed in the concept of LIVE interactive classes being a superior format for online learning which creates greater learning outcomes,” stated Vamsi Krishna, CEO, and Co-Founder of Vedantu. “During the lockdown, everyone is talking about LIVE classes and it is the best time for us to drive more adoption and strengthen our brand as the best destination for LIVE classes. On top of adding new categories, we will use the funds to invest in content and technology to create the world’s best LIVE teaching-learning experience,” he added.
Founded in 2014, Vedantu presents Live interactive instructing to college students throughout grades K1 to 12, for all main boards and aggressive examinations like JEE and JEFT. Vedantu stated it has recorded a whopping progress of 220% throughout Covid-19 induced lockdown with greater than 2 million college students attending reside courses and academics delivering over eight million hours of reside courses. The firm additionally entered the early learner phase by launching a coding program referred to as “Vedantu SuperKids” that centered on youngsters between 6 to 12 years. Vedantu claims that it has plans of launching extra applications in this class quickly.
“Online learning adoption in India is at an all-time high setting a new benchmark for the rest of the world. As we continue to focus on driving high-growth ventures, our investment in Vedantu marks our entry into the Indian EdTech market,” Rahul Kishore, Managing Director, Coatue stated.
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