Vedantu Invests In Instasolv To Boost 'Doubt Solving' In Tier III, IV Markets This funding marks Vedantu's focus in tier III and tier IV cities where students still face quality teaching and doubt solving sessions
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Vedantu, a live online learning platform, on Tuesday, announced that it has invested in Instasolv—a doubt solving app for students in classes 6-12. The company has invested $2 million as a part of pre-series A funding in Instasolv with full rights of acquisition.
This funding marks Vendantu's focus in tier III and tier IV cities where students still face quality teaching and doubt solving.
Commenting on the investment, Vamsi Krishna, CEO, and co-founder, Vedantu said, "With this definitive shift in consumer behavior from offline to online, Vedantu will continue to explore opportunities to scale impact, strengthen platform features and expand into new categories. Our investment in Instasolv is a strategic step to strengthen our play in doubt-solving, which is one of the key aspects of learning online. We are excited to partner Instasolv and leverage the category as more students join this new learning wave in tier III and tier IV markets."
Vedantu has claimed that its free access to complete learning during lockdown has drawn students in multifolds and has solved over 1 million doubts for its students. During this period, the number of subscribers on Vedantu's platform has grown exponentially to 1.1 million with collections and revenue up by 80 per cent.
Vedantu was founded by Krishna, Anand Prakash and Pulkit Jain in 2011.
On the recent development, Aditya Singhal, CEO and co-founder, Instasolv, said, "Owing to the pandemic, an increasing number of students are learning from home, which has led to a spurt in the number of queries on our platform. This ascertains that instant doubt solving, and live, online learning go hand in hand. Through Vedantu's investment in Instasolv, we plan to expand our offering and enrich features so that students can access learning on the app itself. We believe that providing access to great teachers and vernacular content (keeping in mind state syllabi) at a price accessible to tier III and tier IV towns will help drive access to students."
Instasolv receives 3 million questions on its app monthly and can solve doubts instantly for free.