Bengaluru based online tutoring startup Vedantu has raised INR 78 crores ($11 million) in series B round of funding from Omidyar Network. Existing investor Accel Partners also participated in the funding round.
Vedantu has raised funds after a pause of three and a half years. It raised $5 million in series A round from Accel Partners and Tiger Global Management in 2015.
Vedantu plans to use the fresh capital to ramp up its technology as well as expand to tier II and tier III cities. Furthermore, the startup will enter into exam categories like GMAT and GRE, apart from tutoring to 6th to 12th grade, which it currently provides.
Founded by Pulkit Jain, Anand Prakash, Saurabh Saxena and Vamsi Krishna, Vedantu provides live learning session between teachers and students. It helps students across multiple cities to prepare for exams like NTSE, PSE, KVPY, IMO, JEE Mains and others.
The fee for an hour of group session cost somewhere between INR 50-150 and a private session cost INR 300-600. Due to the minimal fees for one-on-one learning, the startup has received attention from students. Moreover, teachers and students can rate each other after the session ends.
Vedantu has a mobile app that is available in 80 cities including Bengaluru, Delhi, Mumbai as well as several others with students from 36 countries and 1,200 cities. The startup is working towards making live sessions more personalized using machine learning and facial recognition techniques to track student’s attention span and concept understanding.