Vedantu, an Edtech startup company, announced it has raised $24 million in funding led by GGV Capital. Existing investors also participated in the funding round. Last year the company raised $42 million funding led by Tiger Global.
Vedantu will utilise the capital for branding and expanding its presence to new categories such as early childhood learning and lower grades. The company currently focuses on learners from grade 6-12, but it will now start reaching out to kindergarten to grade 5 learners as well. The company said its base of paid users has expanded by 1,00,000 since it raised capital from Tiger Global and WestBridge Capital.
According to a media report, Vamsi Krishna, CEO, Vedantu said, “We are going to come into new categories, especially in the lower grades, and you’ll see us investing heavily in this. The expansion won’t be in a single shot, but one category at a time.”
“We think Vedantu has hit an inflection point with its WAVE product, through which teachers with a track record of delivering superior results can offer personalised education to many students at once,” said Hans Tung, managing partner at GGV Capital, who will also join Vedantu’s board.