ALLEN Career Institute Acquires EdTech Platform Doubtnut
Allen Career Institute, founded in 1988 by Rajesh Maheshwari in Kota, is famous for its coaching for entrance exams like NEET, JEE Main, and JEE Advanced. They have helped a vast number of students across India with more than 200 classroom centers in 53 cities.
On the other hand, Doubtnut, founded by Tanushree Nagori and Aditya Shankar in 2016, is a digital platform that helps students solve academic doubts. It has a significant online presence with a reach of 32 million students every month through its apps, websites, and YouTube channels.
Allen Career Institute has acquired Doubtnut in a strategic move. This acquisition is quite interesting because it reflects Allen’s commitment to enhancing its online learning solutions. They are looking to integrate technology more deeply into their teaching methods, which is crucial in today’s digital world.
After this acquisition, the two organizations will work closely together. Doubtnut will continue to focus on resolving students’ doubts, but now with the added benefit of Allen’s rich curriculum and academic resources.
This collaboration means that students of both Allen and Doubtnut will have access to more comprehensive learning materials and a better doubt-resolution experience.
Regarding the financial side of things, Doubtnut has raised about $50 million in total funding over the years. This includes investments from major players like Omidyar Network, WaterBridge, Tencent Holdings, and Peak XV (formerly Sequoia Capital India). The acquisition deal with Allen is reported to be around $10 million.
Apart from these 2 EdTech platforms, let me also tell you about the current state of the Indian EdTech startup ecosystem.
Recently, there’s been a trend where many EdTech startups, which were mainly online, are now moving towards establishing offline coaching institutes. This includes big names like BYJU’s, Unacademy, and Cuemath.
However, the sector is facing challenges like reduced venture capital investments and pressures of layoffs and shutdowns. For example, BYJU’s, valued at $22 billion, is currently struggling to maintain its position and manage its finances effectively.
Meanwhile, Allen’s acquisition of Doubtnut marks an important development in the Indian education sector, combining the strengths of offline coaching expertise and online doubt resolution technology to enhance the learning experience for students across the country.