Vedantu, an EdTech platform and pioneer of the ‘live online, interactive’ class has managed to raise funds of $11 million (INR 79 crores). The Company’s proprietary technology platform facilitates online interaction between students and teachers via a whiteboard and an audio and video environment. Students not only access content but also take assessments and get their learning report on the platform. Vedantu will be using the funds to further develop technology to create a more personalised LIVE learning experience for students and to create its Student App.
Launched in 2015, Vedantu works with 500 teachers and has achieved 800,000 hours of live classes with a student base of 40,000 from grades 4 to 12 (for CBSE & ICSE Boards). The teachers, who are chosen after a rigorous selection process, are spread across 80 cities. Each tutor must maintain a high rating from students to continue teaching.
According to a report by Google and KPMG, the online education industry in India will see a growth of eight times to become a $1.96 billion industry by 2021, as an increasing number of students consume content through e-routes. In this segment, primary, secondary and supplemental education is likely to see the highest uptake and paid user base is estimated to touch 9.6 million users in 2021 .
Vedantu Team (from left to right):Pulkit Jain (co-founder & head-product), Anand Prakash (co-founder & head-academics), Vamsi Krishna (CEO & co-founder)
According to Vamsi Krishna, Vedantu CEO and co-founder, “Our aim at Vedantu has always been to reimagine and improve the way teaching and learning have been happening for decades. Today, on Vedantu, thousands of students from across the world study virtually with teachers, who are located far away from them. By using technology tools, data and AI, we are not just connecting these students to amazing teachers, but we are able to create a superior learning experience for students and aid in their outcome improvement, which is unlike any offline experience. Teaching and learning are set to transform at a rapid pace and our mission at Vedantu is to accelerate these transformations.”
“By using technology tools, data and AI, we are not just connecting these students to amazing teachers, but we are able to create a superior learning experience for students and aid in their outcome improvement, which is unlike any offline experience,” Vamsi Krishna, CEO, Vedantu
Siddharth Nautiyal, investment partner, Omidyar Network said, “The lowering data costs and availability of high speed internet is making the online teaching model a reality. Vedantu’s one-to-many live classes are disrupting the market, while providing students a meaningful learning experience through ‘star’ teachers and an AI-powered platform in over 400 cities. We are excited about our partnership with Vedantu it builds a solution for the next half billion Indians who are coming online for the first time.”
“As one of the early starters, Vedantu is a category defining company in online LIVE tutoring. Its constantly evolving tech platform combines the best of teaching and learning experience, making education accessible, affordable and impactful. We are committed to Vedantu’s vision and are excited to be a catalyst in this journey”, added Anand Daniel, Accel Partners.