Interactive online tutoring platform Vedantu secured $24 million as part of its Series C financing round. The Bangalore-based startup operates a learning app for students from the age of 12 to 18.
The Series C funding was unveiled by the ed-tech in August 2019 and was led by global VC firm GGV Capital. Few of the existing investors were also present in the round and the five-year-old startup managed to pool in $24 million and altogether $82 million till date.
Vedantu’s app hosts interactive sessions for students who have enrolled. They are required to answer questions every few minutes by tapping on their smartphone screen or the desktop, the students can also raise doubts at the end of every session. Also, some of these sessions are offered for free by the company but in order to select a topic the students will need a subscription.
As of now, the app has over 75,000 paid subscribers and according to the CEO, the figure will go up to 100,000 by the end of 2020. Subscriptions can range from Rs 100 ($1.4) for students looking for sessions in a particular topic up to Rs 50,000 ($700) for long term courses. Vedantu’s mobile app and website attracts more than 25 million users each month.
India houses the largest school-age population in the world and people are ready to invest a lot in education. Every year about a million students pursue undergraduate courses in the country.
Indian startups to collaborate for an indigenous app store to fight Google monopoly
Fintech startup Thunes Raises $60 Million
Tech Data to Acquire Innovix Distribution
Apple May Sell iPhones Directly to Its Indian Customers Soon
Tech Mahindra Launches Blockchain-Based Platform for the Media industry
© 2020 CIO Bulletin. All rights reserved.