Ed-tech startup Vedantu has added $24 million to its Series C round, with the total now stacking up to $66 million. The company has raised a total of $82 million to date. The bengaluru based startup is aimed at students between the age of 6 to 12 years, and has something in store for both its free and paid subscribers.
The platform offers live and interactive courses for students in the said age bracket, with a paid version for specific users. The price for various courses can vary from anywhere between Rs.100 for some specific course to Rs. 50,000 for others(like undergraduate courses).
Class size can vary from 600 for paid courses, to somewhere around 2000 for unpaid ones.
The main attraction of the app is the live interaction between the students and teachers. The app reportedly employs around 70 different parameters to check if a student is responding to the teacher, ranging from answering questions that pop up during lectures, to using microphones and cameras to interact with the mentor in real time. The company reports that around 90% of its user base responds to the lectures. Moreover, the lectures will have a doubt session at the end of each class to tackle problems and doubts head on, making sure that no queries are left unattended.
Now on the business end of things, Vedantu has amassed around 75,000 paid users already, a number which the company hopes will reach in the hundred thousands in the year. The company is backed by the global VC firm GGV Capital. The five year startup has managed to gain some traction thanks to the ads it ran last year on television. Moreover, it has the edge of being online and thus, providing its services at a relatively lower price than its offline counterparts. Moreover, the Indian market is hot for tech startups right now, with affordable android phones flooding the market and one of the cheapest data rates around the world. The 1.5 billion market is a potential goldmine.
Other ed-tech startups in the region have prospered fairly well, most notable of them being Byju’s. The ed-tech behemoth last raised money at a $8 billion valuation, with existing investor General Atlantic pouring in $200 million last week.