Vedantu, Indian LIVE online learning platform, has announced its investment in Instasolv, a doubt-solving app for students from Class 6 to 12 for science, mathematics, IITJEE, and NEET. Vedantu has invested $2 million as part of a pre-series A funding in Instasolv, with full rights to acquisition.
Instasolv, which receives 3 million questions on its app monthly, can solve doubts instantly for free. A student clicks a photo of a question, it uses OCR technology to extract text which further uses AI algorithms to match with a question database to provide an answer in a few seconds to the student.
The number of students on the Vedantu platform has increased manifold during Covid-19 lockdown. Vedantu has solved over 1 Million doubts for its students. Over this period, the number of subscribers on Vedantu's platform has grown exponentially to 1.1 Million with collections and revenue which grew by 80%.