Making its first acquisition within the edtech house, dwell studying platform Vedantu has acquired Instasolv, a doubt-solving app for college students from Courses 6 to 12 for science, arithmetic, IITJEE, and NEET.
This additionally marks Vedantu’s rising focus into tier-2 and tier-3 cities as Instasolv’s core focus is in these areas. With this acquisition Instasolv brings in near 1 million of its potential energetic learners to Vedantu’s platform. As well as, Instasolv will leverage Vedantu’s dwell courses, tech, product and content material.
Final yr, Vedantu had invested $2 million as a part of a pre-series A funding in Instasolv.
“We now have seen super potential in Instasolv and share the identical mission to democratize training within the nation. By way of this partnership we endeavor to alter India’s studying curve via definitive outcomes,” stated Vamsi Krishna, CEO and co-founder, Vedantu. “Supply and distribution are two main areas the place Vedantu deeply invests and continues to search for inorganic acquisition,” he added.
Vedantu had final yr delivered 75 million hours of courses throughout its platform and with 6.3 million college students attending dwell courses. The Tiger International backed startup has raised over $200 million to this point with a $100 million spherical from US-based funding agency Coatue and others final yr.
With Covid-19 including tailwinds to the edtech sector, it has seen a number of mergers and acquisitions previously yr and the pattern is more likely to proceed this yr. Edtech unicorn Unacademy final week acquired TapChief, knowledgeable networking and future of labor platform. Edtech decacorn has additionally been on an acquisition spree with the Bengaluru-based firm set to accumulate edtech startups Toppr and Scholr, in line with stories. It is usually in talks to accumulate examination preparation agency Aakash Academic Companies Restricted for about $700-750 million.