LectureNotes, an online platform for teachers to share educational resources like notes with students for free, has acquired a community driven EdTech startup that caters to students of academic degree courses for an undisclosed amount.
As part of the all-stock deal, the three co-founders of CollegeShala will now share core responsibilities in the LecturerNotes Group.
The latest acquisition is likely to help LectureNotes in expanding its footprint in other parts of the country and strengthening presence in the academic degree courses segment.
Founded in 2020 by Upamanyu Chatterjee, Shouradeep Chatterjee and Mohamed Fazal Mustafa, CollegeShala provides exclusively curated course content, a chance to mitigate the queries and access to peer communities. The company's vision is to become the face of this 20 million strong community who are India's future.
Commenting on the acquisition, Chairman of LectureNotes, Srustijeet Mishra, said, "CollegeShala’s expertise in content acquisition and curation along with their ability to create extensive peer networks will help LectureNotes in strengthening its existing processes and help explore more geographies."
The company claims that it caters to over 22 million undergraduate students through its platform.
LectureNotes, started by Ayush Agrawal, with a mission to enable people in the field of education to connect, empower institutions to create world-class leaders and innovators for society and industry. It also creates a support system for mastery in learning, enabling access to high-quality educational resources for the masses.
Bhubaneswar-based LectureNotes vision is to bring together a community of intellectuals that engage in revolutionary discussion, collaborate to create and share content to help the masses learn better. The most essential value that it upholds is that the platform focuses on making a few great things instead of making many mediocre products.
The acquisition comes over a year after LectureNotes infused a funding of INR 1.83 crore into CollegeShala in November 2020. The deal is part of LectureNotes’ elaborate strategy to create ‘Lecture-verse’, an EdTech umbrella term for a slew of standalone Edtech brands that cater to students of all age groups and classes.
In 2019, LectureNotes had raised INR 2.5 crore in angel funding from a Singapore-based group of High Net-worth Individuals (HNIs).