New Delhi, Aug 29 (PTI) Online education company Vedantu on Thursday said it has raised USD 42 million (about Rs 301 crore) in funding, led by Tiger Global and WestBridge Capital.
The series C round also saw participation from existing investors Accel, Omidyar India and TAL Education as well Prince Maximilian of Liechtenstein and CEO, LGT group and founders of Vedantu, a statement said.
The funds will be utilised to scale operations and expand the company’s learner base as well as deepen investment into tech and content capabilities, it added.
Vendantu has about 15 million users accessing Vedantu monthly from over 1,000 cities. Founded in 2011, Vedantu has over 500 teachers on its platform and a significant number of its users are from tier II and III cities.
The founders had previously founded Lakshya in 2006, which was acquired by BSE-listed MT Educare in 2012.
“Our product is our core differentiator where we offer a full-stack solution with a better quality teacher at affordable prices. We will use this funding towards boosting our technology, content capabilities and to build the brand and expand our services for learners across India,” Vedantu CEO and co-founder Vamsi Krishna said. PTI SR