[Funding]: EdTech Startup Instasolv receives $2 Million from Vedantu in pre-series A funding round

Edtech startup Vedantu has invested $2 million in Instasolv.

With that, it also has full rights to acquire the app. Vedantu's investment is a part of Instasolv's pre-series A funding round. 

What is Instasolv?

Instasolv is a doubt-solving app for high school students. JEE and NEET aspirants can also use the app. Students can take a photo of a question and get instant answers within a few seconds from the app. Currently, it has 7 million question and answers (Q&As) and it answers almost 100,000 questions daily.

It has a platform, askIITians, that has expertise in the doubt solving segment of online learning. The platform solves 3 million doubts every month on its platform. Further, it utilises OCR technology to extract text from photos and uses AI to match questions with answers from its database and provide them to students within seconds.

Aditya Singhal, CEO, and co-founder, Instasolv said in a statement:

Through Vedantu's investment in Instasolv, we plan to expand our offering and enrich its features. 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 3 & Tier 4 town will help drive access to students.

About the deal between Vedantu and Instasolv

Vedantu has invested 2 million dollars in Instasolv in pre-series A funding round. With that, it also has full rights to acquire the app. Vedantu's investment is a part of Instasolv's pre-series A funding round. With this investment, the EdTech startup aims to strengthen its focus in the doubt-solving space, where doubts are solved by quality teachers in a chat format.

Vedantu claims to have solved over 1 million doubts for its students. Due to the pandemic, it has seen a rise of over 1.1 million users. So, this investment marks Vedantu's focus into Tier 3 & Tier 4 towns. These are the cities where access to quality teachers is a growing challenge and doubt solving is a key imperative for students.

Vamsi Krishna, chief executive, and co-Founder, Vedantu said, in a statement:

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.

Vedantu currently offers both one-to-one and one-to-many tutoring on its platform for students from 6th to 12th grades. It includes all major subjects like Maths, Science, SST and English for CBSE, ICSE and IB Boards.

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