China's TAL Education Group backs live-tutoring start-up Vedantu

The Indian education market is expected to almost double to $180 billion by 2020 from $100 billion in 2016

Beijing-based TAL Education Group, an education and technology enterprise, has invested $5 million (close to Rs 35 crore) in Vedantu, a live online tutoring company. 

The Bengaluru-based firm revealed that the investment (by TAL Education Group) was part of the $11-million round that Vedantu raised last November in a Series B funding, which was led by Omidyar Network with participation from Accel. Vedantu is the first Indian education company that TAL has chosen to invest in. 

“India is a huge market and we are excited about its potential,” said Luo Rong, chief financial officer, TAL Education Group. In a market like China