Private Equity Fund Investments
Edtech co Vedantu raises $100-M led by ABC World Asia; turns unicorn
Bangalore-based edtech startup Vedantu, focussed on live online tutoring, has raised USD 100 million in Series E funding led by Singapore-based impact investing fund ABC World Asia. The round, which also saw participation from existing investors – Coatue, Tiger Global, GGV Capital, and WestBridge - values Vedantu at USD 1 billion, making it India's latest unicorn. The Rainmaker Group acted as the exclusive financial advisor to Vedantu. The new funds will be used to strengthen product engineering functions as well as for expanding into newer categories through both organic and inorganic routes. Vedantu's courses range from classes for young students - from 3 years old to 18 years old - to competitive exam preparations such as IIT-JEE, NEET, CBSE, ICSE, and state exams such as Maharashtra Board. It also offers extracurricular classes such as English Speaking, Reading, and Coding.
From the Venture Intelligence PE-VC Deal Database: Between May-2020 and Jul-2020, Vedantu had raised over USD 200 M from GGV Capital, Coatue Management, WestBridge, Omidyar Network, Tiger Global, KB Investment, Legend Capital, Trifecta Capital, Accel India and others. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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