Debt

Debt financing

Edtech co. Vedantu attracts Rs.19-Cr from Stride Ventures

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Bengaluru-based edtech startup Vedantu has secured INR 19.25 crore (USD 2.4 million) in a mix of debt and equity financing from Stride Ventures Debt Fund II.While 1,750 unlisted, secured, redeemable non-convertible debentures (NCDs) of face value of INR 1 lakh each was proposed to raise INR 17.5 crore, the remaining INR 1.75 crore was secured against issuing 4,968 series E2 partly paid up compulsorily convertible preference shares (CCPS) at INR 3,522.80 per share.Founded in 2014 by Vamsi Krishna, Anand Prakash, and Pulkit Jain, Vedantu offers tuition to school students and also courses to prepare for entrance tests such as NEET and JEE. It has also started offering curated courses for kids 4 to 12 years of age.

Between May 2015 and Feb 2022, Vedantu had raised over USD 314 M from InnoVen Capital, Orios VP, Z Nation Lab, ABC World Asia, Coatue Management, GGV Capital, Tiger Global, WestBridge, Omidyar Network, KB Investment, Legend Capital, Trifecta Capital, Accel India and Tiger Global.