- Bangalore-based education tech company Vedantu announced it has raised $24 million led by GGV Capital. These are the details.
Vedantu, a Bangalore-based company that runs a learning app, announced it has raised $24 million in funding as part of its Series C financing round. With this round of funding, the company is planning to serve more students and drive brand growth.
This funding round was led by GGV Capital. And several existing investors also joined the round. Including this funding round, it broadened the Series C to $66 million and brought the company’s total funding to $82 million.
Vedantu’s platform offers interactive courses for students between grades 6 and 12. And students who enrolled for the interactive sessions answer the questions through their mobile devices or desktops.
In an interview with TechCrunch, Vedantu co-founder and CEO Vamsi Krishna said some of these sessions are free for students, but certain features require a subscription. Currently, the app has over 75,000 paid subscribers. And the company is expecting that figure to pass 100,000 this year. There are over 25 million users that use the Vedantu app or website every month for free lessons.
The company was founded by Krishna, Anand Prakash, and Pulkit Jain. Krishna is also teacher and he ran the Lakshya Institute until early 2014. Mumbai-based K-12 tutoring company MT Educare ended up buying a majority stake in the Lakshya Institute.
GGV Capital managing partner Hans Tung is joining the board of the company in connection wtih the investment.
“We are excited to partner with Vamsi and the Vedantu team and share GGV’s global expertise and network to help them scale and shape learning outcomes for millions of students in India and beyond,” said Tung.
