Vedantu eyes up to $15 million from existing investors

The firm is aiming for profitability and offline growth ahead of its proposed $150-200 million IPO in 2026-27

- Mansi Verma & Sneha Shah

12 online tutoring unicorn Vedantu is in talks to raise $10-15 million via a convertible equity round from its existing investors, two people with direct knowledge of the discussions told Mint.

The firm is looking to shore up capital as it chases full-year profitability and offline expansion ahead of its initial public offering (IPO) in two years.

Its fundraising move comes amid a broader slowdown in edtech funding, with founders and investors increasingly divided over valuations set during the 2020-21 e-learning boom.

"Mismatch in valuation continues, so it is in talks to raise a convertible equity round with most of its existing investors participating," said one of the two people, seeking anonymity.