India-based online tutoring service Vedantu has received Rs 960m ($12.6m) in a series C1 round led by Legend Capital, the venture capital firm formed by conglomerate Legend Holdings, the Economic Times reported yesterday.
Impact investment firm Omidyar Network also took part in the round, through its Ohana Holdings vehicle. It has now raised a total of $83.4m in debt and equity financing altogether.
Vedantu runs an online learning platform that offers interactive classes tailored to passing various Indian entrance exams, as well as free content covering assorted vocational and academic subjects.
The company closed a $66m series C round in February this year, adding $24m from a second tranche led by venture capital firm GGV Capital to $42m from educational services provider TAL Education, Tiger Global Management, WestBridge Capital, Accel and Omidyar Network India.
Trifecta Capital had reportedly supplied $1.4m in debt and equity financing for Vedantu in August 2019. It secured $11m in a late 2018 series B round featuring TAL Education, Accel and Omidyar Network, following $5m from Tiger Global and Accel in 2015.