Investors are becoming more bullish on online education platforms in India as startups demonstrate growth at the height of a global pandemic that has severely impacted other industries.
U.S. based private equity firm Coatue led the six-year-old Vedantu’s new financing round, with participation from some existing investors. The new funds valued Vedantu at $600 million, up from $275 million in February this year, when the startup closed its extended Series C round.
Vedantu offers live and interactive courses for students in grades 6 though 12 -- and in recent months it has expanded its catalog to serve students in grade one to five as well, said Vamsi Krishna, co-founder and CEO of the startup, in an interview with TechCrunch.
Students who have enrolled for the interactive sessions are required to answer questions every few minutes by tapping on their smartphone screen or on the desktop. They also can raise their doubts at the end of the session. Some of these sessions are free for students, but a selection of it requires a subscription, said Krishna.
More to follow...