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Vedantu

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Vedantu
Company typePrivate
IndustryEducation
Founded13 April 2014 Edit this on Wikidata
FoundersVamsi Krishna, Pulkit Jain, Saurabh Saxena and Anand Prakash
Headquarters
Bangalore, Karnataka
,
India
Area served
India
WebsiteVedantu.com

History

Incorporated in 2011, Bangalore-based Vedantu Innovation Ltd[1] is an online tutoring platform launched in October 2014 for public. The company’s name Vedantu is said to be derived from Sanskrit words Veda-knowledge and Tantu-network. The organization is run by four Friends from Indian Institutes of Technology (IITs) – Vamsi Krishna (Co-Founder, CEO), Pulkit Jain (Co-Founder, Head Product), Saurabh Saxena(Co-Founder, Head Academics) and Anand Prakash (Co-Founder).[2] Vedantu is their second venture after Lakshya, a test preparation coaching company.[3] Lakshya was acquired by a public listed company, MTEducare[4] in the year 2012.

Vedantu is said to operate on a marketplace model for teachers, where students can browse, discover and choose to learn from an online tutor of their choice.[5]

The company uses a real-time virtual learning environment named WAVE (Whiteboard Audio Video Environment), a technology built in-house, which powers the teaching-learning platform.[6] Vedantu provides online live tuitions for students in class 6th to 12th for Indian Certificate of Secondary Education (ICSE) & Central Board of Secondary Education (CBSE) curriculum throughout India. Currently the company is into live online tutoring in science (Physics, Chemistry, Biology) and Mathematics. It also claims to provide test preparation courses for Indian Institute of Technology Joint Entrance Examination (IIT JEE) Foundation, National Talent Search Examination (NTSE) and Problem Solving Assessment (PSA).[7]

Funding

The firm has raised its first round of funding after six months of current operational format. It has raised $5 million from Accel Partners and Tiger Global Management in its Series A funding.[8]

Vedantu plans to utilize the funding in developing technology solutions for tablets and mobile with scalability which can run hundreds of live learning sessions concurrently.[9]

References

  1. ^ https://www.crunchbase.com/organization/vedantu-innovations
  2. ^ https://www.techinasia.com/india-vedantu-raises-fresh-funding/
  3. ^ http://www.livemint.com/Money/4tKsLXEVMDtyHpBJWRNACO/For-IIT-aspirants-coaching-by-IITians-is-at-hand.html
  4. ^ http://www.moneycontrol.com/india/stockpricequote/computers-software-training/mteducare/ME14
  5. ^ http://www.business-standard.com/article/companies/vedantu-raises-5-mn-from-accel-partners-tiger-global-115050700718_1.html
  6. ^ http://thetechportal.in/2015/05/07/vedantu-series-a/
  7. ^ http://tech.economictimes.indiatimes.com/news/startups/vedantu-5-million-funding/47187315
  8. ^ http://www.thehindu.com/todays-paper/tp-business/micromax-to-invest-400-m-to-pick-up-stake-in-20-startups/article7182468.ece
  9. ^ http://www.livemint.com/Companies/Bd95CKooByYVTbNlLreRII/Tiger-Global-enters-invests-in-Vedantu.html
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