Bengaluru-based online tutoring startup Vedantu has raised $11 Mn in a Series B funding round led by philanthropic investment firm Omidyar Network, with participation from existing investor venture capital firm Accel Partners.
Vedantu spokesperson confirmed the development to Inc42 and said the company plans to use the funding to expand its technology and presence in Tier 2 and Tier 3 cities.
Founded in 2014 by Vamsi Krishna, Anand Prakash, and Pulkit Jain, Vedantu is an interactive online tutoring platform where teachers provide tuitions to school students over the internet, using a real-time virtual learning environment named WAVE, a technology built in-house.
The company’s name has a special meaning as the company emphasises Veda = ‘Knowledge’ and Tantu= ‘Network’. This means a knowledge network where any student can tap into a teacher directly and learning can happen in a personalised way, anytime-anywhere