Season of edtech deals: Vedantu acquires doubt-solving platform Instasolv to focus on small towns
Another day, another edtech deal.
Live learning startup Vedantu has acquired instant doubt-solving platform Instasolv for an undisclosed sum. This is the Bengaluru-based startup's first acquisition in what has been a season of edtech M&As in India lately.
Interestingly, Vedantu had made a pre-Series A investment of $2 million in Noida-based Instasolv in June 2020. Instasolv instantly clears doubts in science and mathematics for Class VI to XII students, as well as for IIT-JEE and NEET aspirants.
This acquisition marks Vedantu's increasing focus in Tier II and Tier III towns, where it looks to bridge the quality gap in teaching. Instasolv brings about one million potential active learners to Vedantu's live class platform, which reaches 1,000+ cities.
Vamsi Krishna, Co-founder and CEO, Vedantu, said in a statement,
"Last year, we took a strategic decision to invest in Instasolv to strengthen our play in doubt-solving, which is one of the key aspects of learning online. We have seen tremendous potential in Instasolv and share the same mission to democratise education. Through this partnership, we endeavour to change India’s learning curve through definitive outcomes.”
In 2020, Vedantu claims to have delivered 75 million hours of classes across its learning platform, with 6.3 million students attending live classes. Overall, its content is accessed by 25 million monthly users across 40 countries.
Speaking of the acquisition, Aditya Singhal, Co-Founder and CEO, Instasolv said, “We are excited to extend this strategic investment from Vedantu to a full acquisition. Instasolv's partnership with Vedantu will only strengthen Vedantu’s live class platform and help to achieve quality learning outcomes for millions of students.”
Founded in June 2019 by Aditya, Nishant Sinha, and Bahul Arora, Instasolv helps students get answers to their doubts by posting a photo of the question on the app.
The startup taps into an enormous domestic market, where students post an estimated one billion doubts on the internet every day. Instasolv competes with the likes of Sequoia-backed Doubtnut, which is also said to be scouting for buyers.
Edited by Kanishk Singh