Educational technology has been making steady strides in the past few years, and the recent acquisition of Doubtnut by Kota-based test prep startup Allen Career Institute is proof of this. Doubtnut is an AI-powered doubt-solving platform that uses image recognition, natural language processing, and proprietary AI/ML algorithms to provide video-based solutions to students’ queries. It has a monthly reach of 32 million students across digital apps, websites, and YouTube channels and has received investments from Peak XV Partners, Omidyar Network India, Waterbridge Ventures, SIG Investments, and Lupa Systems.
Allen Career Institute has announced the acquisition of Doubtnut to develop technology-led learning solutions that will improve students’ learning outcomes. The Doubtnut team will continue to focus on building a doubt resolution experience for students of Allen and Doubtnut.
Speaking on the deal, CEO of Allen Career Institute Nitin Kukreja said, “Timely and effective resolution of doubts is a core consumer need in education. Doubtnut’s platform will allow us to enhance the learning experience for our students greatly. We are also excited by the prospect of offering Allen’s high-quality academic products to a broader audience.”
The specifics of the current transaction have not been disclosed, but as per an Entrackr report, it is said to be a stress deal worth around $10 million. Allen will bring its curriculum and academic offerings to Doubtnut’s student base and cater to their needs.
Co-founder of Doubtnut, Aditya Shankar, stated, “Doubtnut’s mission is to bring education to every student across India using technology and high-quality content. We resonate with Allen’s vision of creating technology products to improve learning outcomes.”
Established in 1988, Allen has been a significant coaching institute in the country for entrance exams in medicine and engineering. It has over 200 classroom centres in 53 cities in India, coaching over 2.8 million students. Allen Digital, the company’s digital arm, has launched interactive learning websites and mobile apps for undergraduate and postgraduate courses.
In May 2022, Allen bagged funding of $600 million from Bodhi Tree Systems. Maheshwari said the company has allocated 20% of its funds towards mergers and acquisitions, with some of these acquisitions happening by the end of this year or next.
These developments in educational technology are a great sign for educators, as it indicates that technology is being leveraged to improve the learning experience for students. These advances are also allowing students to get more personalized attention and access to high-quality educational resources. With the use of AI-powered doubt-solving platforms, students can now get quick and accurate answers to their questions, leading to improved learning outcomes. In the future, we can expect more such developments that will help bridge the gap between educational technology and educational outcomes.
