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Vedantu is in advanced talks to raise $100 Mn, valuing it at a billion dollars, post-money, About $60 Mn will be contributed by existing investors -- Coatue Management, GGV Capital and Tiger Global Management -- while an Asian private equity fund is expected to invest $40 Mn, MoneyControl sources said.
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People close to the transaction insisted that Vedantu never held a conversation with Byju’s, putting an end to acquisition rumours reported by Entrackr earlier this month. CEO Vamsi Krishna also strongly denied the development in the report and in subsequent interviews, saying that building out Vedantu independently was his priority.