Vedantu aims to revolutionise edtech sector with heavy focus on K12 segment
In a recent conversation with YourStory’s Daily Dispatch, powered by HSBC, Vamsi Krishna, CEO and Co-founder, Vedantu, talks about the evolving trends in the edtech sector and the unicorn's vision for IPO.
— the Bengaluru-based edtech player — needs no introduction. The company turned unicorn in September last year after securing a $100 million funding from ABC World Asia.
Talking about the startup’s journey amidst the COVID-19 pandemic, Vamsi Krishna, CEO and Co-founder, Vedantu, said the last couple of years have been very happening for the edtech company as the pandemic helped push the awareness for online education.
Vedantu is a category creator for live online classes, which saw significant growth, especially for the K12 segment. “At Vedantu, we saw a 14x increase in all major numbers in the last two years,” he added.
Highlighting the acknowledgement the Indian startup ecosystem received in the Union Budget 2022, Vamsi said the government is taking several initiatives to help the education sector of the country with DIKSHA one of them.
“In general, their approach has been very inclusive. There are a lot of initiatives, where they take our thoughts, and are open to partnerships,” he added.
Commenting on the key pillars of growth for Vedantu, Vamsi shared the startup will heavily focus on the K12 segment as it is a large underpenetrated market. Besides, it aims to innovate to bring the price point down.
“Next year you will see Vedantu coming out with disruptive courses at disruptive price points,” he said.
Additionally, the edtech unicorn aims to service more categories and sub-categories and focus on global expansion.
For Vedantu, its biggest metric is the number of students it serves — free and paid. Presently, the edtech startup caters to over 35-36 million students per month in its free service category. It expects to cross 50 million in the coming year.
As for paid users, the company will be closing 2022 at a quarter-million number.
In terms of fundraising activity, Vamsi said the company has surplus capital, but it aspires to file for an Initial Public Offering (IPO) in the future.
“Making the company more solid and IPO ready is one of our core goals,” he said, adding the time frame for the IPO would be around 18-20 months.
Edited by Suman Singh