Education services provider TAL Education invested $5m in India-based online tutoring service Vedantu as part of an $11m series B round announced in November 2018, Business Standard has reported.
Investment firm Omidyar Network and venture capital firm Accel were the two participants in the round that had already been named. Accel and hedge fund manager Tiger Global Management had previously provided $5m in series A funding for Vedantu in 2015.
Vedantu provides tutoring for primary and high school students in a real-time virtual learning environment, either individually or in groups.
Luo Rong, TAL Education’s chief financial officer, told Business Standard: “India is a huge market and we are excited about its potential. We have seen this approach scale in China, and we believe in Vedantu team’s vision and will back them to be market leaders here.”
