Latest funding values Vedantu at $600 mn

NEW DELHI: Vedantu has raised $100 million in a funding round led by New York-based Coatue Management at a valuation of $600 million, making it the second most valuable online education startup in India after Byju’s.

Existing investors, including Tiger Global and GGV Capital, also participated in the Series D round. Rahul Kishore, managing director of Coatue, will join Vedantu’s board. Vedantu and other such education platforms have benefited from the extended shutdown of schools because of the pandemic, which has forced educational institutions to suspend classroom teaching. Edtech startups have stepped in to fill the gap with online classes. Investors have been quick to jump on the edtech bandwagon even as funds dried up for startups in other sectors.