Vedantu, an edtech startup, based out of Bengaluru, has secured ₹9.42 crore in debt and preference funding from Trifecta Capital.
According to sources, the startup has raised ₹8 crore in April this year, and ₹1.4 crore in Series B in the months of May and June of the same year.
Whereas, after the present funding, the company will be valued at $100 million.
Vedantu was founded by Vamsi Krishna, Pulkit Jain, and Anand Prakash in 2014. The platform. The platform enables students to learn through personalised teaching courses. It uses artificial intelligence (AI), machine learning (ML) and big data to refine its personalised teaching model.
The startup claims to have more than one-million hours of live teaching every month, catering to 40,000 students.
Vedantu provides live online courses to students between Classes VI and XII. They also have courses for students preparing for engineering and medical entrance examinations. Its application has more than one lakh downloads, as per the company’s website.
Furthermore, according to the sources, Tridecta Ventures invested across 36,842 debt securities, at a premium of Rs 170, amounting to Rs 69,63,138.
Krishna, on the other hand, said that the edtech startup has so far seen 3x growth every year and that they plan to maintain the same in the future.
Some of the significant startups in the similar space includes BYJU’s, Unacademy, Simplilearn, Toppr, Meritnations and many more.