NEW DELHI: Online tutoring platform Vedantu on Wednesday said it has raised $100 million in its Series E round of funding, becoming India’s fifth edtech unicorn.
The round, led by Singapore-based impact investing fund ABC World Asia, saw strong participation from existing investors – Coatue, Tiger Global, GGV Capital, Westbridge among others. With this round of funding, Vedantu’s valuation is at $1 billion.
The funds will be primarily used to strengthen product engineering functions as well as expanding into newer categories through both organic and inorganic routes, the company said in a statement.
Vamsi Krishna, CEO, and Co-Founder, Vedantu, said, “We will continue to innovate to reach as many students as possible and create 10x better experiences and outcomes for every child at Vedantu. Even though we have made quality teaching affordable and enabled it to reach masses since our inception, it’s still very early, much more transformation is still to come which we wish to drive forth,” he added.