Good morning, hope everyone is excited about the weekend! We've got some more EdTech news today with Vedantu raising some money & one of their founders raising money for his new company.
➡️ Indian EdTech continues to 🔥, just 5 months after raising their $24M Series C round Vedantu announced that they have raised $100M led by Coatue Management. The company is now valued at $600M.
➡️ The company offers interactive courses for students in secondary school (6th - 12th std) and has now also expanded for primary schooling as well. Students in the courses answer questions on their devices every couple of minutes on their devices.
➡️ The platform serves over 25M students every month and they have added an addition 2M students in recent months with the lockdown in the country, with over 20k monthly paying subscribers.
➡️ Good & affordable education in India is hard to come by, and in-person tuition classes aren't accessible to everyone (either pricing or geography). And this is target audience that Vedantu seems to be targeting.
➡️ The company plans to use the capital to expand to new categories and reach more students (in Tier 2/3 India) as EdTech continues to have its moment in India.
2. https://bit.ly/2ZDU8Tk: Uable raised a seed round from 3One4 Capital
➡️ Online life-skill development platform Uable, which was founded by Vedantu’s cofounder Saurabh Saxena in 2019, has raised an undisclosed amount in a seed round led by 3One4 Capital with participation from Global Founders Capital, Inflection Point Ventures, and AngelList & Amrish Rau and Jitendra Gupta.
➡️ The company plans to use the capital to develop their product further & to hire talent, as the company has been bootstrapped until recently. The company is in an interesting space creating skill development courses for children (ages 6-12).
➡️ The product definitely seems it's for India 1 offering subscription-backed programs to children to help them develop skills like idea generation, analytical & logical thinking, and problem solving.
➡️ I'm not sure how many parents would want to buy these sorts of courses for their children, but given the recent successes of companies like WhiteHat Jr, it's surely a big market.
Feedback & ❤️ always appreciated BONUS (Tweet of the day): https://twitter.com/ankitkr0/status/1283980728665923590
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