[Funding alert] Bhubaneshwar-based edutech startup LectureNotes raises angel funding from Singapore HNIs
Bhubaneshwar-based edutech platform, LectureNotes on Friday said that it has raised Rs 2.5 crore (or $351,768) from Singapore based group of HNIs, as a part of its angel round.
The startup will be using these funds to enrich its technology platform, expand its operations as well as focus on business growth.
The company also claims that it will also be heavily investing the funds in building an AI-based system which will handhold the student based on their abilities, current skills, and reading habits to help them concentrate better, setting a career path and helping them proceed on the same to build a successful career.
Incorporated in July 2017, LectureNotes is a community-driven platform where all the contents are provided and shared by the users themselves which are made available to students to read from, for free.
This helps the students to learn and understand the concepts with better notes provided by the best of the faculties. A majority part of the content shared on the platform, at present are from teachers. Further, the content is predominantly focussed on engineering courses, presently.
The startup also looking to introduce a subscription model, where premium content, question banks and self-assessment papers will be provided to help students assess their learning and improve with the AI-powered recommendation system.
Speaking on the platform and its growth, Ayush Agrawal, Founder of LectureNotes said,
“We are a platform for teachers to share notes and get connected with thousands of students all across. We have over 20,000 teachers and over one million users registered with us who use around 17 minutes every day on the platform, finding teachers, notes and contents to learn for the University based curriculum. We have generated over 3 million pages of contents and all of these are generated by uploads from the users themselves”
Looking at the future, Ayush also said that LectureNotes wants to be the go-to place for people in education, not just for notes but to skilling and employability.
“We want to be the way people in education connect and communicate, helping students, teachers and institutions come together to improve learning. We want to be the team to be instrumental in setting career paths for our users. We want to take the role of the personal mentor, using the AI to become the go-to person that every student need to guide him on a journey beyond just academics,” added Ayush.
LectureNotes also plans to serve close to 5 million students over the course of the next one year.