Vedantu raises $100 million in Series D funding from Coatue

During its Series D funding round, Vedantu has raised $100 million, multiplying its valuation to $600 million, which makes it the second-most esteemed ed-tech startup in India, after BYJU's. 

 

As reported by the Economic Times, This fundraising round was driven by New York-based hedge fund Coatue, which has also globally supported renowned companies like Uber, Spotify, Bytedance and has put resources into Swiggy and Rebel Foods in India. Various present investors, for example, Tiger Global and GGV Capital likewise took an interest in the round. The managing director of Coatue, Rahul Kishore, will join Vedantu's board. 

 

Coatue’s Rahul Kishore stated that the firm’s interest in Vedantu marks their entrance into the Indian ed-tech market. This move underlines their approach to join forces with organizations that are positioned for high development and scale. 

 

Vedantu facilitates live interactive classes for students across grades K1-12, for every significant board and competitive examinations such as JEE and NEET. During the pandemic, Vedantu also ventured into the early learner category with the dispatch of its coding program for 6-12 years called Vedantu SuperKids. It likewise propelled a reading program and plans to include more projects in this section. 

 

Vamsi Krishna, the CEO, and co-founder of Vedantu has stated that with the lockdown, the popularity gained by the live classes gives an ideal opportunity for the company to practice more adoption and fortify their image as the most sought after platform for live classes. 

 

Vedantu recorded the development of 220% during the COVID lockdown with in excess of a million students going to 3.8 million live long stretches of classes each month. 

 

This is Vedantu's third round of subsidizing over the most recent a year. It raised $42 million from Tiger Global and others in Aug 2019 and another $24 million from GGV Capital and Tiger in February this year. It has raised about $200 million to date.