Bhubaneshwar-based education technology startup LectureNotes has raised an angel funding of Rs.2.5 crore from HNIs, an investor group based in Singapore.
The startup said that it will use the funds to enhance its technology platform, expand its operations as well as focus on its business growth by investing in building an AI platform that will help students to focus on their studies, develop skills, improve reading habits and guiding them to build a successful career.
Founded in 2017 by Ayush Agrawal, LectureNotes is a community-driven platform that brings together teachers and scholars from around the world to connect, engage, collaborate, create and share content to help the masses learn better. The contents on LectureNotes’ platform are provided and shared by the users themselves and made available to learners to read for free.
LectureNotes helps students to learn and understand the concepts with better notes provided by the best of the faculties. It offers university notes, exam questions and solutions, video lectures and tutorials, and placement preparation content. At present, majority of the content shared on the platform are from teachers and is predominantly focused on engineering courses.
Speaking about the company and its growth, Ayush Agrawal, Founder and CEO of LectureNotes, said,
“We are a platform for teachers to share notes and get connected with thousands of students all across. We have over 20,000 teachers and over one million users registered with us who use around 17 minutes every day on the platform, finding teachers, notes and contents to learn for the university-based curriculum. We have generated over 3 million pages of contents and all of these are generated by uploads from the users themselves.”
Emphasizing heavily on the company’s vision and mission and its future plans, Ayush added saying,
“We want to be the way people in education connect and communicate, helping students, teachers and institutions come together to improve learning. We want to be the team to be instrumental in setting career paths for our users. We want to take the role of the personal mentor using the AI to become the go-to person that every student needs to guide him on a journey beyond just academics.”
Meanwhile, LectureNotes reportedly plans to introduce a subscription model, where premium content, question banks and self-assessment papers will be provided to help students assess their learning and improve with the AI-powered recommendation system. The startup also plans to serve close to 5 million students over the course of the next one year.