Investors are becoming more bullish on online education platforms in India as startups demonstrate growth at the height of a global pandemic that has severely impacted other industries.
Bangalore-based startup Vedantu said on Thursday it has raised $100 million in its Series D financing round, just five months after it closed its Series C funding.
U.S. based Coatue led the six-year-old Vedantu’s new financing round, with participation from some existing investors. The new funds valued Vedantu at $600 million, up from $275 million in February this year, when the startup closed its extended Series C round.
Vedantu offers live and interactive courses for students in grades 6 though 12 — and in recent months it has expanded its catalog to serve students in grade one to five as well, said Vamsi Krishna, co-founder and CEO of the startup, in an interview with TechCrunch.
Students who have enrolled for the interactive sessions are required to answer questions every few minutes by tapping on their smartphone screen or on the desktop. They also can raise their doubts at the end of the session. Some of these sessions are free for students, but a selection of it requires a subscription, said Krishna.
Vedantu today serves 25 million students each month. The startup has added more than 2 million users in recent months as schools closed across the nation after New Delhi enforced a lockdown.
Krishna said Vedantu is adding more than 20,000 paying subscribers each month to the platform.
More to follow…
