Orios Venture Partner gives Vedantu $2 million

• ByStartupStory     |    February 25, 2022

Vedantu, an edtech business, has secured further financing in an extended Series E round led by Orios Venture Partner. The firm joined the unicorn club after raising $100 million in a Series E investment led by Singapore-based ABC World Asia.

According to Vedantu’s regulatory filings, the business issued 42138 Series E1 CCPS to Orios Select Fund with a face value of Rs 10 and a premium of Rs 3512.7, totalling Rs 14.84 crore or over $2 million.

The Bengaluru-based firm’s main services include online lessons for grades 6 to 12, as well as resources for grades 1 to 12 and JEE. In May 2020, the firm entered the children’s coding market (ages 6 to 12).

Vedantu, like other prominent edtech firms, bought two startups in 2021: Instasolv and Pedagogy.

Under the startup’s ESOP related bonus pay-out scheme, Vedantu launched its first-ever employee stock ownership plan (ESOP) liquidity plan worth $3 million for its workers in November.

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