Vedantu, Bengaluru-based edtech startup, has raised $7 million in the latest Series C2 funding round from South Korea-based KB Global, according to Entrackr. Earlier this month, the company announced a funding round of around $12.5 million led by Chinese venture firm Legend Capital.
Venture debt provider Innoven Capital is reportedly set to join the round with an investment close to Rs 1 crore.
Entrackr calculated that the estimated valuation of Vedantu has now reached $280 million (Rs 2,104.5 crore) post the latest infusion.
Founded by Vamsi Krishna, Pulkit Jain, Saurabh Saxena, and Anand Prakash, Vedantu mainly offers online classes for grades one to 12th. It also provides exam preparation services for competitive exams, including NTSE, PSA, KVPY, IMO, and JEE Mains.
Vedantu claims to have 150,000 students who study live on its platform each month. It has more than 25 million users every month, who come from more than 1,000 cities and 40 countries.
Vedantu's existing investors include Accel, TAL, Tiger Global, and Omidyar Network.
Amid the COVID-19 crisis, students and schools have to rely on online education due to national lockdown and school closures. Indian online learning platforms such as Lido Learning, Camp K12, and Vedantu, has recently raised capital.