Vedantu, the edtech unicorn, has secured ₹19.25 crore (approximately $2.3 million) in debt and equity from Stride Ventures. This marks the first funding round for the Bengaluru-based company since it raised $100 million, valued at around $1.1 billion.
According to filings from the Registrar of Companies, the company raised Rs 19.25 crore through Stride Ventures Debt Fund II.
In a strategic move towards expanding its offerings and market presence, Vedantu has proposed to acquire complete control of Ahmedabad-based Pedagogy by buying the remaining 9.32% in the company through a share swap deal.
Their vision at Vedantu is to increase its knowledge resources and strengthen its positioning within the ed-tech ecosystem, catering to varying needs and preferences for learning.
Pedagogy for bringing popular books and digital courses from renowned publishers and coaching centers that can be taken by students to prepare for different entrance exams named JEE, NEET, NET, and CTET. It will go well with the existing portfolio of Vedantu and spread its reach in a segment that covers competitive exams.
In a strategic diversification play, Vedantu has made an offline foray by partnering with Vignan Institute and creating six learning centers for high schools in Andhra Pradesh and Telangana. The expansion drive fits into Vedantu’s omnichannel model of reaching out to different learning needs and enhancing educational accessibility in all regions.
