Vedantu

Vedantu is an Indian Interactive Online tutoring platform where teachers provide tuitions to students over the internet, using a real-time virtual learning environment named WAVE (Whiteboard Audio Video Environment) a technology built in-house. It is said to operate on a marketplace model for teachers, where students can browse, discover and choose to learn from an online tutor of their choice.[1][2][3]

Vedantu
Private
IndustryOnline Education
Founded2011 (2011)
FoundersVamsi Krishna
Pulkit Jain
Saurabh Saxena
Anand Prakash
Headquarters
Bangalore, India
,
India
Area served
India
WebsiteVedantu.com

History

Incorporated in 2011, Bangalore-based Vedantu Innovations Pvt. Ltd.[4] is an online tutoring platform launched in October 2014 for public.[5] The company’s name Vedantu is said to be derived from Sanskrit words Veda-knowledge and Tantu-network. The organization is run by four friends from Indian Institutes of Technology (IITs) – Vamsi Krishna (Co-Founder, CEO), Pulkit Jain (Co-Founder, Head Product), Saurabh Saxena (Co-Founder, Head Academics) and Anand Prakash (Co-Founder).[6][7][8] Vedantu is their second venture after Lakshya, a test preparation coaching company.[9] Lakshya was acquired by a public listed company, MT Educare[10] in the year 2012.

In September 2017, it was announced that Vedantu was to host the second edition of International Student League (ISL) in November 2017.[11]

Content

It primarily provides services to students of grade 4th to 12th for Indian Certificate of Secondary Education (ICSE) & Central Board of Secondary Education. Currently the company's primary business is live online tutoring in STEM, Hindi, English, Sanskrit, German, French, Environmental Science and Social Science.[12] It also claims to provide test preparation courses for Indian Institute of Technology Joint Entrance Examination (JEE) Foundation, National Talent Search Examination (NTSE) and Problem Solving Assessment (PSA).[13]

Funding

The firm has raised its first round of funding after six months of current operational format. It has raised $5 million from Accel Partners and Tiger Global Management in its Series A funding.[14][15]

Vedantu plans to utilize the funding in developing technology solutions for tablets and mobile with scalability which can run hundreds of live learning sessions concurrently.[16]

Vedantu has raised $11 million in a Series B funding round led by Silicon Valley impact investment firm Omidyar Network and also contributed by its existing investor Accel Partners. [17]

On August 29, 2019, Vedantu announced that it has raised $42 million in a Series C financing round for expansion in India.[18]

In July 2020, Vedantu raised $100 million in funding led by US-based Coatue. With the latest funding, Vedantu's total fund tally stands at over $200 million.[19]

Awards and recognition
  • In February 2016, Vedantu was named as one of the winners of the DNA Innovative Education Awards for the 'Best Organization to Develop Technology for Education'[20]
  • In 2016, Vedantu was named as one of the winners of KINSES2016 EduAwards.[21]
  • Vedantu was also named among the top 100 startups to watch in 2016 by SutraHR[21]
  • Vedantu was also awarded as the Online Education Start-up of the Year in 2015 by elets World Education Summit.[22][22]
  • In 2015, Vedantu was also given the award of 'Most Promising and Innovative Live Online Tutoring Platform in India' by Praxis Media.[23]
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References
  1. Jain, Samiksha (10 September 2015). "IIT alumni e-learning venture Vedantu eyes 300% growth in coming years". Entrepreneur. Retrieved 5 October 2017.
  2. Babu, Anita (7 May 2015). "Vedantu raises $5 mn from Accel Partners, Tiger Global". Business Standard India. Retrieved 5 October 2017 – via Business Standard.
  3. "Why edtech startups will be the next to top the class - Gadgets Now". Gadget Now. 7 August 2015. Retrieved 5 October 2017.
  4. "Vedantu - crunchbase". www.crunchbase.com. Retrieved 5 October 2017.
  5. Nandi, Kathakali (6 September 2015). "Choose your teacher on this online portal". The Hindu. ISSN 0971-751X. Retrieved 5 October 2017.
  6. Poovanna, Sharan (14 October 2015). "An online platform that makes education more personalized". livemint.com/. Retrieved 5 October 2017.
  7. Babu, Anita (7 May 2015). "Vedantu raises $5 mn from Accel Partners, Tiger Global". Business Standard India. Retrieved 5 October 2017.
  8. "Tech in Asia - Connecting Asia's startup ecosystem". www.techinasia.com. Retrieved 5 October 2017.
  9. "For IIT aspirants, coaching by IITians is at hand - Livemint". www.livemint.com. Retrieved 5 October 2017.
  10. "MT Educare Stock Price, Share Price, Live BSE/NSE, MT Educare Bids Offers. Buy/Sell MT Educare news & tips, & F&O Quotes". www.moneycontrol.com. Retrieved 5 October 2017.
  11. "Vedantu to host second edition of International Student League in November 2017". The Education Post. Retrieved 5 October 2017.
  12. "List of tutors for different subjects at Vedantu".
  13. www.ETtech.com. "Vedantu raises $5 million funding from Accel Partners & Tiger Global - ETtech". ETtech.com. Retrieved 5 October 2017.
  14. Shu, Catherine. "Indian Online Tutoring Platform Vedantu Nabs $5M From Accel And Tiger Global". TechCrunch. Retrieved 5 October 2017.
  15. "Micromax to invest $400 m to pick up stake in 20 start-ups". The Hindu. 8 May 2015. Retrieved 5 October 2017 – via www.thehindu.com.
  16. Ambre, Ashna (7 May 2015). "Tiger Global enters invests in Vedantu". livemint.com. Retrieved 5 October 2017.
  17. "Omidyar leads $11 million funding in live tutoring platform Vedantu". livemint.com. Retrieved 28 December 2018.
  18. "India's Vedantu raises $42M to expand its live and interactive online tutoring platform". TechCrunch. Retrieved 29 August 2019.
  19. "Vedantu raises $100 million, claims now 2nd most-valued ed-tech company". The Financial Express. 17 July 2020. Retrieved 17 July 2020.
  20. ":: DNA INNOVATIV B-SCHOOL AWARDS". www.bschoolaffaire.com. Retrieved 7 October 2016.
  21. "This startup is an Ed-tech initiative facilitating live Online Tutoring- Vedantu - KnowStartup". KnowStartup. 2 March 2016. Retrieved 7 October 2016.
  22. "Vedantu Innovations - Vedantu Innovations Pvt. Ltd. - World Education Summit 2015". World Education Summit 2015. 7 August 2015. Retrieved 7 October 2016.
  23. "Praxis Media declares National Education Achievers, 2015". Educationworld.in. Retrieved 7 October 2016.
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