India: Edtech startup Vedantu invests $2m in doubt solving app Instasolv

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Edtech startup Vedantu has invested $2 million in Instasolv, a doubt-solving app for high school students and for IITJEE, and NEET aspirants along with full rights to acquire the app. Vedantu’s investment is a part of Instasolv’s pre-series A funding round.

This is Vedantu’s first investment in an EdTech company and will strengthen its focus in the doubt-solving space, where doubts are solved by quality teachers in a chat format.

Instasolv is a startup focused on doubt-solving category and helps students to resolve doubts instantly with a focus on grades 6 to 12 and students aspiring for IIT JEE and NEET. 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 on a daily basis.

“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. 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,” said Aditya Singhal, chief executive, and co-founder, Instasolv.

This investment also marks Vedantu’s focus into Tier 3 & Tier 4 towns where the access to quality teachers is a growing challenge and doubt solving is a key imperative for students.

Witnessing a major surge after it announced free access to its complete learning platform during the Covid-19 lockdown, Vedantu claims to have solved over 1 Million doubts for its students. Over the past few months, the number of subscribers on Vedantu’s platform has grown exponentially to 1.1 million users.

“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,” added Vamsi Krishna, chief executive, and co-Founder, Vedantu in a statement.

Vedantu currently offers both one-to-one and one-to-many tutoring on its platform for students from 6th to 12th grades, in all major subjects, including mathematics, science, social studies, and English, for the Central Board of Secondary Education, the Council for the Indian School Certificate Examination, and International Baccalaureate.

Till date, Vedantu has received funding of $85 million from investors such as GGV Capital, Accel Partners, Omidyar Network, Westbridge Capital, Tiger Global, and others.

This article was first published on livemint.com

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.