Edtech startup Vedantu is the latest to graduate to the desired unicorn club after the company raised $100 million in a Series E round drove by Singapore based ABC World Asia and participated by Coatue, Tiger Global, GGV Capital, Westbridge and others. This is the principal capital raise for the company in 2021 and in the past 15 months.

A year ago, the Bengaluru-based startup had raised $100 million in its Series D round at a post-cash valuation of more than $500 million, according to Fintrackr’s calculation. During its Series D round, three of its fellow benefactors, Vamsi Krishna, Pulkit Jain and Anand Prakash, had sold secondary shares to KB Capital.

Vedantu is the 28th startup to achieve unicorn status in 2021 alone. Earlier this month, professional networking platform for blue and gray collar laborers, Apna and e-sports platform Mobile Premier League had joined the club after any semblance of Zetwerk, Grofers, Eruditus, CoinDCX, upGrad, MindTickle and BharatPe had raised their new rounds at unicorn valuation last month.

Utilized car marketplace Spinny is also set to before long join the unicorn club as it is in late-stage talks to wipe up $250-300 million at a $1.9 billion valuation, Entrackr had solely revealed.

Vedantu’s center offering covers online classes from grade 6 to 12 along with materials from grade 1 to 12 and JEE. The company wandered into kids coding space (age bracket 6-12) in May 2020. The company was also in talks to consolidate with Byju’s, in any case, the company denied it.

The edtech space has seen considerable consolidation this year, driven by acquisition binges by any semblance of Byju’s and Unacademy, two of the greatest startups in this space. Like them, Vedantu had also acquired Instasolv and Pedagogy.

Vedantu is yet to record its annual financial report for FY21. Notwithstanding, its misfortunes in FY20 had augmented to Rs 158.5 crore, against Rs 27 crore in FY19. According to Fintrackr, its total incomes for the fiscal ending March 2020 stood at Rs 35.8 crore against Rs 12.4 crore in FY19.

While the current shareholding construction of Vedantu is obscure, Accel was the greatest stakeholder in the company followed by Omidyar and Tiger after the consummation of the Series D round. According to Fintrackr, Chinese education major TAL Learning was also a significant stakeholder in Vedantu. Importantly, the three prime supporters’ aggregate holding stood at 7.62% by and large around then.