Vedantu is a Bengaluru-based online learning platform, an education technology start-up that features real-time personalised learning. The platform has recently announced to have bought a 100% stake or in other words, have acquired Noida-based Instasolv which is India’s largest Q&A application for students.
This news is the biggest recent activity in the educational technology sector and according to a report by Business Insider, this deal remains undisclosed but it has been dug out that Vedantu has previously invested USD 2 million in Instasolv back in July 2020.
Vedantu was founded back in 2011 by Pulkit Jain, Anand Prakash, Vamsi Krishna and Saurabh Saxena. The app provides software that bridges tutors with students that provide real-time personalised teaching to students through online mode.
On the other hand, Instasolv was founded back in 2019 by Aditya Singhal, Nishant Sinha and Bahul Arora. The platform is considered as India’s largest Q&A app for students. A platform where they can get all the answers they need for their academic questions.
As mentioned in a report by Business Insider, Vamsi Krishna, Chief Executive Officer and Co-founder at Vedantu mentioned in a statement that in 2020, the team at Vedantu took a decision to invest in Instasolv to strengthen the company’s doubt solving capabilities. Doubt solving is considered as one of the main key aspects when it comes to online learning. He further added that they have seen the same mission to democratise education in India as they have witnessed with Instasolv and that the start-up has shown a lot of potential for growth.
Vedantu has a huge user base with more than 25 million users across the country and with this acquisition, Instasolv’s 1 million doubt solvers will now be a part of the big Vedantu family.
Since COVID-19, the disruption in the traditional education system has been tremendous and education has taken a digital route to reach students in the form of online classes and through education technology start-ups such as Vedantu, Instasolv, Byju’s and Unacademy among many others.
The education technology sector is on the boom at the moment and it shows a lot of potential for the future. Unacademy has recently acquired TapChief and Byju’s is reportedly acquired Schoolr, Aakash Institute and Toppr as its 2021 acquisitions.
According to the company profile on Crunchbase, it is mentioned that Vedantu has raised total funding worth USD 190.9 million in over 9 financing rounds. On the other hand, Instasolv has raised total funding worth USD 2 million in its seed funding round from Vedantu back in 2020.