Vedantu’s Progress
The lockdown has definitely led to massive growth for the Vedantu platform with its number of subscribers has expanded exponentially over the past couple of months across K-12 and competitive exams such as JEE and NEET.
Vedantu has been offering its services to 25 million students each month. As reported by Economic Times, the platform has stated that it registered a 220% growth in users to 2 million unique students who have participated in their live classes over the past three months.
In 2019, Vedantu launched its WAVE platform. This platform adopts Artificial Intelligence and Machine Learning for personalizing teaching as well as learning for each student and has been developed for making LIVE classes more enticing and engaging. One of the main challenges online education generally encounters is the low completion rate of courses because of less engaging content. This factor has been tackled by Vedantu which extends its focus on LIVE interactive classes to make its classes more entertaining and interactive for its users.
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As reported by Livemint, recently in late June of this year, Vedantu invested $2 million in an EdTech organization, Instasolv, which is a doubt-solving app for high school students as well as for IITJEE and NEET aspirants, as a step towards enhancing their role in doubt solving.
In late Feb 2021, Vedantu acquired Instasolv, marking its first acquisition in the buzzing EdTech space.
Amidst the lockdown, Vedantu has taken up the initiative of offering FREE LIVE Interactive Classes along with premium content for Grade 1 -12 as well as competitive examinations like JEE/NEET in order to ensure that the education of students isn’t hampered owing to the lockdown.
During end-May, 2021, Vedantu set up a Rs 15 crore fund with the aim of assisting in offering education to around 12,000 children that have been affected by the COVID-19 pandemic.
The platform has also launched a national initiative - V.O.T.E (Vedantu Online Talent Exam), in March 2021, that will include an assessment exam for students of grades 5-12.
As reported by Economic Times, presently with its latest capital infusion, Vedantu is valued at USD 600 million, making it the second most valued firm in the Indian Edtech sector, after Byju’s, which is valued at USD $16.5 billion.
Vedantu Founders
Vamsi Krishna is the current CEO of Vedantu. A graduate from the Indian Institute of Technology, Bombay, the man is a prominent Tech Enthusiast, Edupreneur, as well as Tutor. Prior to founding Vedantu, he had been the co-founder of Lakshya, alongside his college classmates, which is the EDTech organization that laid the foundation for the idea of Vedantu. He also worked as a Management trainee at L&T for about a year.
Pulkit Jain is a co-founder of Vedantu as well as the former co-founder of Lakshya. He was also employed at EvalueServe till 2006. A graduate from IIT Roorkee, the man is presently an inspiration for various young entrepreneurs for his entrepreneurial journey.
Anand Prakash is yet another cofounder of Vedantu as well as the former co-founder of Lakshya. A graduate from IIT, Roorkee in Pulp and Paper Technology, the man is presently an account academic head at Vedantu. Prior to Vedantu, he had served as a manager at Abhishek Industries.
Now the founder and CEO of the EdTech firm “Uable”, Saurabh Saxena, a graduate in chemical engineering from IIT Roorkee was also a former co-founder of Vedantu.
Vedantu Recent Funding History
“Strong growth and category leadership of Vedantu in live online tutoring -- these were the main reasons for us to gain investor interest. It was a good opportunity to raise more money and create a war chest.” - Vamsi Krishna, co-founder and CEO of Vedantu.
