Online tutoring start-up, Vedantu is on the look-out of rolling out a mobile application in a few months to expand to tier II and III towns.
Online tutoring start-up, Vedantu is on the look-out of rolling out a mobile application in a few months to expand to tier II and III towns. The Bengaluru-based company, which is a marketplace for tutors, was launched in November last year and raised $5 million in a Series A round of funding from Accel Partners and Tiger Global Management in May this year.
“We are using these funds to roll out an application that can work on mobile phones and tablets. The application will be rolled out in a few months,” said CEO and Co-Founder, Vamsi Krishna. The company will spend on brand awareness campaigns as well.
Founded by IIT allumini, Vamsi Krishna, Pulkit Jain, Saurabh Saxena and Anand Prakash, the company aims to personalise and democratise learning by getting full-time or part-time tutors on its platform. Tutors can offer live lessons online through its in-house Whiteboard, Chat, Audio and Video technology (WAVE) technology which is optimised for low bandwidth connections.
“We aim to provide tutors with incentives, which are not available in an institutionalised setup. One of the teachers on our platform has made up to Rs 98,000 in a month,” he added. The revenue is shared in 70:30 ratio between the teacher and the company. At present, sessions are available in Mathematics and Science for classes six to twelve, but the company aims to expand to other learning categories in the future.
“We also plan to raise another round of funding in the second half of next year,” added Krishna said. As of now, 160 active teachers and 2500 active students use the platform. The company has delivered 21,000 hours of learning.
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