Instasolv, a Noida-based edtech startup, has raised $2 million in pre-Series A funding from undisclosed investors. The company is a doubt-solving app for students from Class 6 to 12 in subjects of science and mathematics and also IITJEE and NEET.
According to the startup, the fresh funding will be used to expand the question and answer base to state level curriculum in different languages. It also plans to develop more features so that students can take tuition and coaching on the app itself.
Founded in June 2019 by Aditya Singhal, Nishant Sinha, and Bahul Arora, Instasolv helps students in getting instant answers to their questions by clicking a photo of a question on the app.
The founders of Instasolv believe that students face challenging time in solving various questions especially in science and mathematics. It is estimated that Indian students post around one billion doubts on the internet everyday.
According to the startup, it has built photo as well as video solutions for popular books. Instasolv claims it gets three million questions on the app daily.
Instasolv has also launched live online classes for science and mathematics at a cost of Rs 800 per month as compared to the market rate of Rs 2,000 and upwards. According to the startup, it is offering these classes at a lower price point as it wants to democratise education with accessibility to all kinds of students.
Aditya and Nishant are graduates of IIT-Delhi and have built large edtech businesses in the past. This the second venture for both these founders.
In the times of COVID-19, when most of the businesses are struggling to remain afloat, the edtech sector seems to be immune from this crisis. In fact, a significant number of edtech startups has witnessed high revenue growth since March.
(Edited by Javed Gaihlot)
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Link : https://yourstory.com/2020/06/funding-alert-instasolv-raises-2-million-in-pre
Author :- Thimmaya Poojary ( )
June 19, 2020 at 06:36PM
YourStory