Allen Career Institute Acquires Edtech Firm Doubtnut For Rs 83 Crore
Test preparatory firm Allen Career Institute has completed acquisition of AI-led doubts solving platform, Doubtnut, the company said on Monday.
Allen Career Institute, a test preparatory firm, has completed acquisition of AI-led doubts solving platform, Doubtnut, the company said on Monday.
According to sources, Allen has acquired Doubtnut for $10 million or about Rs 83 crore.
"Doubtnut team to join Allen to build a world-class doubts platform of the future. This strategic move reflects Allen's commitment to building technology led learning solutions focused on improving students' learning outcomes," Allen said in a statement.
Post the acquisition, Doubtnut's team will continue their focus on building doubts resolution experience for students of Allen and Doubtnut, the statement said.
"Doubtnut's platform will allow us to greatly enhance the learning experience for our students. We are also excited by the prospects of offering Allen's high-quality academic products to a wider audience," Allen CEO Nitin Kukreja said.
Doubtnut has a monthly reach of 3.2 crore students across digital apps, websites and YouTube channels.
Allen will bring its curriculum and academic offerings to Doubtnut's student base and cater to their needs, the statement said.
"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 that are focused on improving learning outcomes," Doubtnut Co-founder Aditya Shankar said.
