Allen Career Institute has acquired Doubtnut in a deal that values the young edtech at $10 million, according to a person familiar with the matter, a reversal of fortune for the once promising edtech leading app.

The two firms confirmed the deal on Monday, but declined to share financial terms of the acquisition. Seven-year-old Doubtnut, whose app that is learning students resolve mathematics and technology issues if you take photographs of those, had raised a lot more than $52 million before the purchase and counted Peak XV Partners and James Murdoch’s Lupa techniques among its backers.

As the marketplace switched, Doubtnut engaged with several people including Prosus Ventures but no offer previously materialized over disagreements on valuation, relating to folks knowledgeable about the problem. In mid-2020, Indian edtech monster Byju’s additionally attempted to acquire Doubtnut, valuing the startup that is young as much as $150 million, For Millionaires reported at the time.

Doubtnut Gained significant attention in 2020 for its use of machine learning and image recognition technology to provide answers in local languages to students, demonstrating an alternative approach to serving students in one of the education markets that are largest.

Allen — that will help prepare pupils seeking to break prestigious examinations such as for example IIT JEE Mains & Advanced, NEET-UG, KVPY additionally the Olympiads — operates one of many biggest mentoring institutes in Asia. The company competes with Aakash, which Indian edtech monster Byju’s obtained year that is last nearly $1 billion. Indian online platform Unacademy, last valued at $3.4 billion, explored acquiring Allen earlier, according to people familiar with the matter.

Bodhi Tree, another investment fund by Murdoch and media veteran Uday Shankar, invested $600 million in Allen year that is last valuing the training organization at over $1 billion.

“Timely And resolution that is effective of is a core consumer need in education. Doubtnut’s platform will greatly allow us to boost the discovering knowledge for the pupils. We have been additionally excited because of the leads of supplying ALLEN’s quality that is high services and products to a wider market,” said Nitin Kukreja, CEO of Allen, in a statement.