Indian edtech company Vedantu has recently announced a Series D round of $100 million led by hedge fund Coatue Management. Existing investors Tiger Global, GGV Capital, Westbridge and Omidyar also participated.
The latest investment values Vedantu at $600 million. The company has raised a total of $200 million to date.
Founded by Vamsi Krishna, Pulkit Jain, Saurabh Saxena, and Anand Prakash in 2014, the online tutoring platform mainly offers online classes for grades one to 12. It also provides exam preparation services for competitive exams, including NTSE, PSA, KVPY, IMO, and JEE Mains.
The fresh capital will be used for expansion and offering new products, according to Entrackr.
Online education sector in India has attracted investors during the national lockdown. Byju's, Unacademy and Vedantu have all raised a large amount of investment over the past few months.