[Funding alert] Edtech startup Instasolv raises $2M in pre-Series A funding from Vedantu
The edtech startup says it will use the funds to expand the portfolio of its doubt-solving app for science and mathematics subjects and also add new features.
, a Noida-based edtech startup, has raised $2 million in pre-Series A funding from , one of the leading edtech startups in the country. This startup is a doubt-solving app for students from Class 6 to 12 in subjects of science and mathematics and also IITJEE and NEET.
According to the press release, following this investment Vedantu also gets full rights to acquisition. The fresh funding will be used to expand the question and answer base to state level curriculum in different languages. It also plans to develop more features so that students can take tuition and coaching on the app itself.
Vamsi Krishna, CEO, and Co-Founder, Vedantu said, "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 3 and Tier 4 markets."
Aditya Singhal, CEO and Co-Founder, Instasolv said, “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.”
Founded in June 2019 by Aditya Singhal, Nishant Sinha, and Bahul Arora, Instasolv helps students in getting instant answers to their questions by clicking a photo of a question on the app.
The founders of Instasolv believe that students face challenging time in solving various questions especially in science and mathematics. It is estimated that Indian students post around one billion doubts on the internet everyday.
According to the startup, it has built photo as well as video solutions for popular books. Instasolv claims it gets three million questions on the app daily.
Instasolv has also launched live online classes for science and mathematics at a cost of Rs 800 per month as compared to the market rate of Rs 2,000 and upwards. According to the startup, it is offering these classes at a lower price point as it wants to democratise education with accessibility to all kinds of students.
Edited by Javed Gaihlot