After denying rumors of BYJU’s acquisition, Edtech’s launch Vedantu is in the middle of a fundraiser and plans to announce a quantum announcement this month.
Vedantu founder and CEO Vamsi Krishna said in an interview with Mint that the company had been receiving a number of calls from its vendors following the release of a media report on the acquisition of Vedantu by BYJU on August 6.
“All our investors have been in business for a long time and are used to these rumors. We are fortunate to have their support, ”said Krishna.
“Currently, Vedantu grows three times a year, and we have no reason to be found. Therefore, to speak of our discovery is simply a human thought. We are continuing to build Vedantu, ”he added.
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When asked about the impact of regular investors between BYJU’s and Vedantu, Krishna noted that Tiger Global is the only common investor among the two edtech startups. Tiger Global “chose not to take a seat at Vedantu, which they have followed up on other funds,” Krishna said.
Vedantu plans to use the funds raised to focus on deepening K-12 donations. “We are always ready to buy, but our funding will be focused on improving teaching knowledge, our access and delivery of our courses as we look to improve our student outcomes,” Krishna said in the letter.
Founded by Krishna, Pulkit Jain, Anand Prakash and Saurabh Saxena in 2011, Vedantu currently offers live training classes for K12 students, including entry exams such as IIT-JEE Main and Advanced engineering and NEET medical colleges.
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It offers CBSE and ICSE classes, as well as various state boards, as well as sample question papers, review notes, humorous exams and papers from last year. Vedantu said it has 27 million monthly visitors to its website as well as 68 monthly views on YouTube. Many of these customers use Vedantu products for free but the scale shows its growing popularity. It has 200,000 paid subscribers – four times growing in the last one year.
