On Monday, Ed-tech start-up Vedantu said it had totally acquired Instasolv, a doubt-solving software for physics, mathematics, and IITJEE and NEET students in grades 6 to 12. However, the ed-tech corporation did not reveal the deal’s financial details. As part of a pre-series A round fund in Instasolv, Vedantu had invested $2 million earlier in 2020.
We took a strategic decision last year to invest in Instasolv to reinforce our position in doubt-solving, which is one of the core facets of online learning. In Instasolv, we have seen the tremendous potential and share the same goal of democratizing education in the nation,” Vedantu CEO and co-founder Vamsi Krishna said in the release.
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This is the first acquisition of Vedantu to strengthen its focus in the immediate doubt-solving room in an education technology business, where doubts are solved by quality teachers in a chat format. In 2020, Vedantu offered 75 million hours of lessons across its website, attending LIVE classes with 6.3 million students.
“We are pleased to expand Vedantu’s financial commitment to a complete takeover. 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,” said co-founder Aditya Singhal, Instasolv CEO. The acquisition of Instasolv takes to Vedantu’s network nearly 1 million of its future active learners, the statement said.