EdTech startup, Instasolv has raised $2 million in pre-Series A round from an undisclosed list of investors. The fresh capital will be infused in expanding 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.
Instasolv was founded in 2019 by Aditya Singhal, Nishant Sinha and Bahul Arora which aims to help the solve their doubts. The platform allows the users to get instant answers to their questions by clicking a photo of the same on their app. The firm caters to the students of class 6 to class 12 in Science and Mathematics stream as well as for competition exams such as NEET and JEE.
The founding team of the startup believes that student find it hard to solve questions specially for Science and Mathematics. Approximately one billion Indian students post their doubts on Internet every day. To help the students, Instasolv has built built both video and image solutions for popular books. They also claim that their platform receives about 3 million doubts on a daily basis.
The Noida-based firm has also launched live online classes at a rate of Rs 800 as compared to market price of Rs 2000 with the objective of making education affordable and accessible for all. The founders of the firm are IIT-Delhi graduates and have a strong background in EdTech business. Instasolv is their second venture in the same space.
EdTech firm across the nation have witnessed a surge in revenue during the pandemic situation as schools, colleges and coaching institutes are unable to conduct physical classes.