LectureNotes, an edtech startup, has secured ₹2.5 crore from HNIs as part of its angel round.
Bhubaneshwar-based startup will be using these funds to enrich its technology platform, expand its operations as well as focus on business growth.
The company also claims that it will also be heavily investing the funds in building an AI-based system which will handhold the student based on their abilities, current skills, and reading habits to help them concentrate better, setting a career path and helping them proceed on the same to build a successful career.
Ayush Agrawal, founder 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”
LectureNotes was founded by Ayush Agrawal in 2017. It is a community-driven platform where all the contents are provided and shared by the users themselves which are made available to students to read from, for free.
The platform helps the students to learn and understand the concepts with better notes provided by the best of the faculties.
A majority part of the content shared on the platform, at present are from teachers. Further, the content is predominantly focussed on engineering courses, presently.
The startup also looking 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.
LectureNotes also plans to serve close to 5 million students over the course of the next one year.
“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 need to guide him on a journey beyond just academics,” added Agrawal.
Beside LectureNotes, other edtech startups in the race include BYJU’s, Unacademy, Khan Academy, MyMBACircle, Clap Global and many more.