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Online education is the future for all. Even now due to pandemics many students turn around to online learning platforms.
Online learning is the present and future trend. Many Indian startups are into creating ed-tech platforms for students.
Ed-tech space in India is worth about 3 billion and by 2030 it touches up to 10 billion. All ed-tech startups are of high potential and also investors are also actively investing.
Now another Indian ed-tech startup turns unicorn in 2021. Vedantu turns unicorn after securing $100 million fundings in its series E round.
The funding round was led by Singapore-based Temasek baked ABC World Asia. Even investors like Coatue, Tiger Global, GUV Capital, Westbridge, and others actively made their investments.
Vedantu becomes the 28th unicorn in 2021. Till now, MPL, Apan.co, Zetwerk, CoinCDX achieves the unicorn startups this year.
Online tutoring platform, Vedantu utilizes the fundings for the expansion. Then even they try to reach ties 3 and 4 cities.
Because their ultimate goal is to provide the best education for all the students irrespective of their cities.
Besides, they are also focusing on providing educational content in the regional languages. Even Unacademy ed-tech startups are being into it. So, they even got a lot of demand into that space.
From this fundings, Vedantu also emphasizes on embarking the journey from Class 1 to 6. They believe the future will be online and it is vital to extend our services.
So, even Vedantu is also trying the regional educational content space. Even it benefits students and also can easily understand the concept. Also, there will no language barrier anymore for learning.
Vedantu is an online tutoring platform for students from Classes 6 to 12. Even they also focus on competitive exams such as JEE, JEE Mains, and NEET examinations.
Besides, this platform focuses on teaching ICSE, CBSE, and state board examinations. Vedantu provides a lot of study material to the students to excel in their academics.
Even they incorporate Whiteboard technology called WAVE where teachers and students can interact with a virtual whiteboard.
Here educators try to solve the problem via a whiteboard interface. So, that students get the feeling of the classroom. Then it helps students to focuses on the class. These all efforts made Vedantu turns unicorn.
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The online learning platform, Vedantu was founded by Pulkit Jain, Vamsi Krishna, Anand Prakash, and Saurabh Saxena.
These four founders lead to the foundation of Vedantu in 2014. Their mota was to provide the best online education to the students.
Vedantu was their second startup in the ed-tech space. Earlier, they found Lakhya Institute a tuition platform for the students. Later, the startup was acquired by MT Educare.
Yourstory interview: Vedantu turns unicorn
In an interview with Yourstory Sharda Sharma and founder, Vamshi Krishna talked about the successful journey.
Vamshi Krishna was happy for the tag of Unicorn status. Even he also remembers the day in 2014 where he was teaching to only a few students.
But now millions of students are seeking content from our platform. Vedantu founder Vamshi Krishna was also happy about the fact.
Then he also explains the struggles of being an early player in the ed-tech space. They were approaching every student for the online teaching. But most of them were unaware of the concept.
So, it was a very cumbersome task for them to explain online teaching.
Then he told that they are not feeling fancy on the title Unicorn. He justifies that the team is working toward providing the best online educational content for aspiring students.
Vedantu platforms get nearly 35 million visits every month. They have the assurance that these are users turn into paid customers in the future. They are expecting about 5 lakh registration.
At present, Vendatu platforms are utilizing by students across 48 different countries.
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Future plans of Vedantu
After earning the status of Unicorn title, now Vedantu focussing on expansions both services and geographically. Even they leveraging on product engineering.
Even Vedantu is also planning for the IPO ( Initial Public Offering) in the next two years of 2024. Now their annual revenue rate is touching over 65 million.
Even they are also trying to expand from both organic and inorganic ways.
Subsequently, they are looking for the acquisition as well. Previously Vedantu acquires Instasolv doubt-solving platforms Instasolv. This platform solves the doubts of any student posting on their platform within 30 minutes.
It is a Noida-based startup in 2019. The founders of Instatsolv are Bhaul Arora, Aditya Singhal, and Nishant Sinha.
Their latest acquisition is platform Pedagogy. These platforms provide digital books from trustworthy publications. Besides it caters to online courses.
It mainly focuses on JEE, NEET, and UPSC examinations. These platforms enable Vedantu’s 30+ million students to access the content. Then this platform provides Q&A, Test papers, and also a handbook as well.
Pedagogy acquisition strengthens the Vedantu’s platforms. Because even Vedantu also focusing K-12 segments so Pedagogy boosts up their services.
Ed-tech startups in India
Ed-tech startups are at the greatest heights in India right now. These startups are running their lucrative business. Literally, there is a huge demand for online education platforms.
Byjus, India’s largest online education platform becomes the most valuable startup in India with $16.5 billion valuations. Even they also made the biggest acquisition of Akash Educational services for nearly $1 billion.
Even there is a lot of investments are coming to the Indian ed-tech startup space. In 2021, till now $2.2 billion of fundings have been given to ed-tech startups in total.
Vedantu became the 5th ed-tech startup unicorn after Byjus, Unacademy, Eruditus, and upgrade. Vedantu turns unicorns at the right time. So, they can build trust and also have the opportunity to capture the market.
In this way, Vedantu makes to the unicorn list. So, this platform planning to strengthen the platforms. Also increasing the penetration rate into the market. Now they hardly captured 5% of the Market.
Ultimately, Vedantu turns unicorn this year which makes the ed-tech space in India lucrative.