Vedantu, a Bangaluru based startup established four years earlier managed to get $11 million investment on 5th April 2018 from Omidyar Network group. This has put the startup in league with major players like Byju classes and Unacademy. After this investment is seen through Vedantu has elaborate plans and goals to further its reach and interests in the growing realm of online education.
Bangaluru: Vedantu, meaning knowledge network was in founded in Banglore on 29th October 2011 by Vamsi Krishna, Anand Prakash, and Pulkit Jain. Before this collaboration, they were the co-founders of another education centered startup Lakhsya which was then sold to MT Educare limited in 2012. Vamsi Krishna once said in an interview that though the firm is a four-year-old company the idea was born when they were at Lakshya Educare Private Limited.
The edu-tech startup at the moment has over 500 teachers, has over 1 million hours tutoring lectures for 40K students all over India.
Vedantu has raised over $10.6 million in four series of rounds the last one being a series B round. Omidyar Network, founded by Pierre Omidyar, co-founder of e-bay, has been playing a big hand in funding Indian companies this year. Omidyar has already made six investments this year namely in Vedantu, Doubtnut, Pratilipi, Healofy, Kaleidofin, and Affordplan.
With this influx of funding, Vedantu plans to make developments in its client’s needs, implement machine learning and facial recognition in its live sessions to check attention span of students and start work in other untapped fields. It also plans to enter into exam categories like GRE and GMAT.