Vedantu picks up $2 Mn from Orios Venture Partner

Edtech company Vedantu has raised fresh funds in its extended Series E round from Orios Venture Partner. The company had raised $100 million in Series E round led by Singapore based ABC World Asia and entered the unicorn club.

Vedantu has issued 42138 Series E1 CCPS having face value of Rs 10 and a premium of Rs 3512.7 aggregating to Rs 14.84 crore or close to $2 million to Orios Select Fund, the company’s regulatory filings show.

The Bengaluru-based company’s core offering covers online classes from grade 6 to 12 along with materials from grade 1 to 12 and JEE. The company ventured into kids coding space (age bracket 6-12) in May 2020. 

Like other leading edtech companies, Vedantu had also acquired two startups: Instasolv and Pedagogy in 2021. 

In November, Vedantu had initiated its first-ever employee stock ownership plan (ESOP) liquidity plan worth $3 million for its employees under the startup’s ESOP linked bonus pay-out scheme.