Vedantu is an Indian online teaching company that uses a real-time virtual learning environment called WAVE to instruct students via the internet (Whiteboard Audio Video Environment). It is based on a marketplace concept for instructors, in which students may explore, find, and select an online tutor for study.
Who Are The Founders And How It Started
Four former IITians are behind Vedantu: Vamsi Krishna, Pulkit Jain, Saurabh Saxena, and Anand Prakash. Although Vedantu was formed in 2014, it was not the group’s first attempt into the education industry.
Before founding Vedantu, the four friends initially met at Lakshya, an IIT test preparation institution in Patiala, Punjab. Lakshya’s USP was that the majority of its trainers were former IITians. Lakshya was purchased by MT Educare, better known as Mahesh Tutorials, after six years of successful operation.
After saying their goodbyes to Lakshya, the creators created an online education network that could reach millions of people. As a result, in 2014, Vedantu was founded with the goal of “solving the issues and limitations of the offline learning model through a comprehensive online platform.”
Two terms make Vedantu: ‘Veda’ and ‘Tantu,’ which represent ‘knowledge’ and ‘network.’ Vedantu claims to be the first firm to offer interactive, live online learning for students in kindergarten through 12th grade (K-12). The webpage includes the curriculum for all mainboards and other competitive exams like NEET and JEE.
Introducing WAVE Learning
WAVE (Whiteboard Audio Video Environment) combines artificial intelligence and machine learning to tailor the learning experience for each student by including features that make topics more exciting and enjoyable. Vedantu, in particular, had a very high interaction rate since its launching in June 2019.
Business Model of Vedantu
Vedantu’s business approach is around Edtech, remote learning, and mobile learning administrations. The company offers online teaching services free lectures, and other teaching materials, available in an online format. Vedantu found that teaching over the internet was the most effective way to make his skills available to individuals out of luck.
Fundings and Investment
Vedantu has raised around $190.9 million in financing thus far. In 2020, Vedantu received three rounds of financing. Because of the lockdowns and rising adoption of online schooling, the firm has seen exponential growth.
KB Global provided $7 million in an all-inclusive Series C financing, valuing the firm at $280 million. Only five months after closing its Series C investment round, It has secured more than $100 million in its Series D financing transaction, valuing the company at $600 million.
Acquisition and Achievements
- Vedantu was selected as one of the winners of the “KINSES2016 EduAwards” in 2016.
- SutraHR also recognised Vedantu as one of the top “100 Startups To Watch” in 2016.
- Elets World Education Summit awarded the “Online Education Start-up of the Year” award in 2015.
- Vedantu was also named by Praxis Media as the “Most Promising and Innovative Live Online Tutoring Platform in India” in 2015.
Future Plans
The Company future objectives include establishing different divisions for elementary school pupils beginning in kindergarten. Vedantu’s primary approach infuses learning with enjoyment and makes learning accessible to kids in remote regions.
Conclusion
The online learning industry is highly competitive, with BYJU’s, Vedantu, and Unacademy accounting for the bulk of market share. There are a lot of other new competitors in the area; as a result, the Indian online education market may soon reach saturation.
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