4 YOUNG TURKS HAVE RAISED $100 MILLION IN 2020 THROUGH BIGGEST ONLINE EDUCATION PLATFORM.
TURKS have successfully introduced democracy and transparency in the field of education. They not only delivered quality education ut also gave freedom to students as well as to teachers. In 2020 they, have raised $100 million in its series D financing round.
INTRODUCING 4 YOUNG TURKS
Vamsi Krishna, Saurabh Saxena, Anand Prakash, and Pulkit Jain all are childhood friends and co-founder of Vedantu. Saurabh, Anand, and Pulkit have done their IIT from IIT Roorkee and Vamsi did his from IIT Bombay.
After completing their graduation they got placed in different sectors with high packages. But they were still not satisfied with their jobs so they decided to meet up. They ended up with a conclusion rather a query -does quality of education can change the lives of children especially of rural ones?
So they went to Barnala, Punjab, and started teaching kids there. In 2016 their first batch consisted of 11 kids who were amazingly got placed in 7 top IITs.
This not only changed the lives of children but also motivated the Turks to scale up their idea. So they started with the first venture called Lakshaya. It was predominantly an offline entity which lasted till 2012. This grew from that same location Barnala to multiple locations.
This influenced them to recruit highly qualified teachers. But they came across with a very challenging phase of their life. They analyzed with the data that the students started losing interest in studies also; the teachers who used to be very creative before became monotonous.
Struggling with many ideas to solve the problem they were still neither able to deliver quality education nor was able to motivate students for studies. But as said when one door closes another opens but when all doors close a revolutionary door opens.
They broke all traditional concepts of an institutional system, as an experiment in the field of education. By using a lot of technology 4 Turks ensured the quality of learning. They created an online platform. This platform was utterly devoid of any physical structure and teachers were not give any academic structure like no. of the period for each chapter, no. of hours for a particular topic, and so on. Live online sessions conducted the interaction between students and teachers. It was a classroom on the cloud. Though teachers were becoming creative now, students were still facing the problem. There was no demarcation of best, good, and poor teachers. Here they chose revolution by introducing the concept of rating.
They asked students to rate their teachers after taking online classes from them, and the teacher's profile was made public. The profile included their highest qualification, years of experience, and the accumulative rating given to them by students. This transparency instinctively made the best teachers come at the top and good teachers at the bottom.
Thus ensuring, the quality of education by introducing democracy.
Today, Vedantu has raised $100 million in 2020 in its series D financing round, just five months after it closed its series C funding.
In the year 2019, 7 Vedantu students from the first batch have qualified for the prestigious KVPY 2019 fellowship award. Along with such results, in the year 2016, Vedantu won the DNA Innovative Education award for the best organization to develop technology for education. Also, in the same year, it won the KINSE2016 EduAwards.
At present, Vedantu is the best and biggest online education platform.