The startup will also use the funds to scale operations and expand its learner base and deepen investment into tech and content capabilities.
Vedantu, live online tutoring start-up, has secured $42 Million in a Series C funding round led by Tiger Global and WestBridge Capital.
The round has also seen participation from existing investors Accel, Omidyar India and TAL Education. Prince Maximilian of Liechtenstein & CEO, LGT group, which is the largest family-owned private banking and asset management group in the world, and the Founders of Vedantu have participated in the round as well.
With this Series C round, the total funding raised by Vedantu to date is $60 million.
The fresh capital will be used to establish Vedantu as a top brand in the live online tutoring space in India. The startup will also use the funds to scale operations and expand its learner base and deepen investment into tech and content capabilities.
Vamsi Krishna, CEO and Co-Founder, Vedantu, said, “Traditionally, students have utilised online learning as an afterthought to other forms of academic preparation. At Vedantu, we want to turn this around and make live classes a genuine alternative to offline coaching and tuition classes.”
“Today 30% of our students are using Vedantu as their only source of learning. This is just the beginning. Our product is our core differentiator where we offer a full-stack solution with a better quality teacher at affordable prices. We will use this funding towards boosting our technology, content capabilities and building the brand and expanding our services for learners across India,” he added.
Sandeep Singhal, Managing Director of WestBridge Capital, stated, “Vedantu’s founders have built a rare digital destination with a highly differentiated product with the potential to create impact with a sustainable business model – we look forward to partnering them in their next phase of growth as they build India’s premier K-12 ed-tech business.”