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Allen Career Institute has grow Doubtnut in a wad that values the untested edtech at $ 10 million , according to a person conversant with the subject , a arresting turnabout of fortune for the once fast - growing learning app .
The two business firm confirmed the deal on Monday , but declined to deal fiscal terms of the accomplishment . Seven - year - old Doubtnut , whose learning app helps educatee solve math and science problem by make photograph of them , raised more than $ 52 million prior to the learning and count Peak XV Partners andJames Murdoch ’s Lupa Systemsamong its backers .
As the market turned , Doubtnut engaged with many investor , including Prosus Ventures , but no deal ever materialized over disagreements on valuation , consort to citizenry familiar with the matter . In mid-2020 , Indian edtech giant Byju ’s attempted to gain Doubtnut , value the new startup atas much as $ 150 million , TechCrunch report at the time .
Doubtnut gained substantial tending in 2020 for its use of machine encyclopaedism and range of a function recognition technology to provide answers to students in local language , manifest an substitute attack to serving students in one of the large education marketplace .
Allen — which helps prepare students looking to crack prestigious test such as IIT JEE Mains & Advanced , NEET - UG , KVPY and the Olympiads — flow one of the largest coaching job institutes in India . The firm compete with Aakash , which Indian edtech giant Byju ’s acquired last year for nearly $ 1 billion . Indian online platform Unacademy , last appraise at $ 3.4 billion , explore evolve Allen in the first place , according to people conversant with the matter .
Bodhi Tree , another investment investment company by Murdoch and media warhorse Uday Shankar , invested $ 600 million in Allen last class , prize the education foundation at over $ 1 billion .
“ well timed and effective resolution of doubts is a gist consumer need in Department of Education . Doubtnut ’s weapons platform will admit us to greatly raise the scholarship experience for our students . We are also energize by the medical prognosis of offering ALLEN ’s high quality academic product to a all-inclusive hearing , ” say Nitin Kukreja , CEO of Allen , in a program line .
