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Kul Bhushan · · 1 min readVedantu in talks to raise $100m to make it India’s 5th edtech unicorn
“Online learning firm Vedantu is in advanced talks to raise US$100 million, valuing it at a billion dollars, post-money, as it is firmly proceeding with a fundraising, instead of a rumored acquisition by Byju’s,” Moneycontrol reported, citing sources.
Details:
- Vedantu could raise about US$60 million from its existing investors, including Coatue Management, GGV Capital, and Tiger Global Management, the people said.
- The edtech firm is also reportedly likely also bag another US$40 million from an Asian private equity fund.
Dive deeper:
- Following the fundraise, Vedantu will join the growing list of unicorns in India. It will also be the fifth in the edtech space after Byju’s, Unacademy, upGrad, and Emeritus to achieve unicorn status.
- Earlier this month, Vedantu shot down a report that claimed it was in talks to be acquired by edtech major Byju’s.
Editing by Collin Furtado and Arpit Nayak
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