Vedantu has raised around $12.5 million in an extended Series C round led by Chinese venture capital firm Legend Capital, with participation from existing investor Omidyar’s Ohana Holdings.
Founded in 2014, the Bangalore-based edtech startup offers live and interactive courses to students from grade 6 to 12.
Amid national lockdown, schools have moved online. Vedantu claimed that it usually adds over 50,000 paid users on its platform annually. However, the past 10 days have seen 100,000 new users, according to Inc 42.
The company may use the capital to grow business in tier 2 and tier 3 cities, as people in these cities have more access to internet and online education.
Prior to this round, Vedantu had raised $24 million in an extended Series C round led by GGV Capital this February.