This EdTech start-up is India's newest unicorn
Summary
Online learning platform Vedantu has raised $100 million at a valuation beyond $1 billion, becoming latest Indian startup to reach unicorn status. “We pioneered live online tutoring in 2014 when India didn’t even have 4G coverage and struggled for four years before usage picked up," Krishna said in an interview. Krishna, 38, and his three fellow founders started Vedantu after shutting an earlier offline teaching venture because scaling it up was difficult. Scores of digital learning startups are sprouting in India as the pandemic shut down schools and shuttered after-school classes, prompting a rush online by parents, students and teachers. Vedantu’s current annual revenue run rate is $65 million and the company is projecting a 4.5 times jump in sales for the year ending in March 2022.
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