Published: 22nd February 2021
Vedantu fully acquires doubt-solving app Instasolv to help students of classes 6 to 12, JEE and NEET
This is Vedantu's first acquisition in an education technology company to strengthen its focus in the instant doubt-solving space, where doubts are solved by quality teachers in a chat format
The EdTech firm, however, did not disclose the financial details of the deal.
Earlier in 2020, Vedantu had invested USD 2 million as part of a pre-series A round funding in Instasolv.
"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 in the country," Vedantu CEO and co-founder Vamsi Krishna said in the statement.
This is Vedantu's first acquisition in an education technology company to strengthen its focus in the instant doubt-solving space, where doubts are solved by quality teachers in a chat format.
In 2020, Vedantu has delivered 75 million hours of classes across its platform and with 6.3 million students attending LIVE classes.
"We are excited to extend this strategic investment from Vedantu to a full acquisition. Instasolv has been at the forefront in offering doubt-solving solutions and its partnership with Vedantu will only strengthen Vedantu's Live Class platform and help in achieving quality learning outcomes to millions of students," Instasolv CEO co-founder Aditya Singhal said.
The acquisition of Instasolv brings in close to 1 million of its potential active learners to Vedantu's platform, the statement said.