India’s Edtech startup Vedantu has raised $100 million in its Series E financing round. This round valued the startup at $1 billion. The funding round was led by Temasek-backed impact investing fund ABC World Asia. Existing investors also participated in this round.
After this funding, the valuation of the company jumped to $1 billion. This makes Vedantu India’s 5th Edtech Unicorn and 28th Indian unicorn of the year.
Vedantu is an online learning platform that offers individual and group classes across K-12. It also offers test preparation segments. With this new capital, it expects to double down its business and add regional languages to its coaching system.
The company boasts over 35 million students on its platform. The company offers a large library of lessons for free. The company also partnered with Airtel and Tata Sky to offer its courses on satellite cable TVs.
As of last year, the company has 200,000 paying customers. The company aims to surpass half a million paying customers by the end of this year.
Vedantu is primarily competing against Unacademy and Byju’s, but focuses less on marketing and more on quality. The company isn’t as aggressive as its rivals but is doing well. Krishna, co-founder, and chief executive of Vedantu, said that the company will try to become profitable in the next two years.
