Allen Career Institute acquires Doubtnut for Rs 83 crore

Allen Career Institute has successfully acquired the AI-led doubts-solving platform, Doubtnut, for approximately Rs 83 crore ($10 million) to foray into technology-led learning solutions, according to an announcement on Monday. The acquisition positions Doubtnut's team within Allen, where they will continue to focus on developing a world-class doubts resolution platform for both Allen and Doubtnut students.

Expressing excitement about the acquisition, Allen CEO Nitin Kukreja underlined the potential for Doubtnut's platform to enhance the learning experience for Allen's students. 

"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," Kukreja said. 

With a monthly reach of 32 million students through digital apps, websites, and YouTube channels, Doubtnut's extensive user base aligns with Allen's customer base.

Following the acquisition, Allen plans to integrate its curriculum and academic offerings into Doubtnut's platform, ensuring a seamless transition and catering to the educational needs of a broader audience. 

"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. 

(With PTI inputs)