NEW DELHI :
Interactive online tutoring platform Vedantu on Thursday said it has raised $24 million as part of a Series C extension round. The funding round was led by global venture capital firm GGV Capital with participation from existing investors.
With the latest funding, which is in addition to the $42 million raised by the startup in August 2019, Vedantu has a raised a total of $66 million in the Series C round.
Till date, Vedantu has received funding of $85 million.
“The funds will be utilized to build the brand aggressively, invest in brand leadership and expand into new categories such as early childhood from ages 4 to 10, complementing the existing offering," said Vamsi Krishna, Vedantu chief executive officer (CEO) and co-founder.
The spillover of the Series C round is a big validation for not only the company but also the live, interactive model of education that Vedantu offers, Krishna said.
Vedantu offers both one-to-one and one-to-many tutoring on its platform for students from 6th to 12th grades, in all major subjects, including mathematics, science, social studies, and English, for the Central Board of Secondary Education, the Council for the Indian School Certificate Examination, and International Baccalaureate.
Vedantu’s WAVE technology, an industry first in the use of artificial intelligence and machine learning in online education, helps capture data from both students and teachers and provides measurability about every student’s learning progress and also enhances the content.
This improves student-teacher interaction, problem-solving, and also helps encourage participation in gamified quizzes and customization of teaching patterns.