Beijing-based Legend Capital invests $10 Mn in India’s top Edutech company Vedantu

vedantu funding

Edutech companies in India are gaining lot and lot of popularity these days and such companies has seen an unprecedented growth in the recent days. These companies have seen an upswing and witnessing unprecedented curiosity from enterprise
capitalists, hedge funds and strategic buyers.

BYJU’s, Unacademy, Doubtnut and Vedantu are few of top Edutech companies in India right now. Vedantu is an interactive online tutoring platform where teachers provide school 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.

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). 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 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.

On August 29, 2019, Vedantu announced that it has raised $42 million in a Series C financing round for expansion in India by Tiger International. Beijing-based early and enlargement stage VC agency has invested $10 million (Rs 74 crore) whereas current investor Omidyar Community has joined the spherical with a funding of $3 million (Rs 22.17 crore).

Beijing-based Legend Capital manages greater than 450 portfolios and has $7 billion value property. It has turn into the third Chinese language investor in Vedantu.