LectureNotes — The Fastest Growing Edtech Startup in India
According to a study conducted by KPMG, “India’s online education market is set to grow to US$ 1.96 billion and around 9.6 million users by 2021.”
The consistent growth of the online education market in India creates opportunities for edtech startups to increase the user base, generate revenue, become profitable, and attract investment. LectureNotes is one of the edtech startups which have been growing rapidly by disrupting and transforming education.
Unlike other fastest-growing edtech startups, LectureNotes operates from a tier two city like Bhubaneswar. But it has been growing steadily by providing a community-driven platform. The community-driven platform enables students and teachers from various educational institutions to connect, collaborate, and interact.
The effectiveness of LectureNotes can be determined from the fact that it is currently accessed by over 1 million active students and 25000 teachers from various colleges and universities. The teachers take advantage of the innovative digital platform to share university notes, video lectures, and tutorials with students over the internet.
At the same time, the students access LectureNotes on a regular basis to acquire knowledge, improve exam performance, and simplify placement preparation by accessing a wide range of content on demand. However, the consistent growth of the edtech startup can be fully attributed to the unique vision of its founder — Ayush Agarwal.
Solving Real and Important Problems Faced by Students
Like other startups, LectureNotes experiences rapid growth by solving problems that are both real and important. Ayush Agarwal founded LectureNotes in 2017, but he conceived the idea in 2011. The edtech startup aims to address the most common problems faced by students across colleges and regions.
In an interview with TheIndianPreneur.com Ayush said, “The idea started back in 2011 when I was a student in my 2nd year, and faced the issue of getting notes for classes that I missed during my Internship at IIT Bombay. It started there, but then I realized why to write notes when we can listen to the teacher, discuss the concepts and get a deeper understanding of the subject and notes can be shared via an online platform, and hence the Idea about LectureNotes came into my mind.”
Since 2017, LectureNotes has been identifying and solving various problems faced by students with the aim — to bring together a community of intellectuals that engage in revolutionary discussion, collaborate to create and share content to help the masses learn better.
Adding Value to Students
LectureNotes makes it easier for students to acquire knowledge and improve exam performance by accessing a wide range of content — university notes, video lectures, tutorials, and solved question papers. The educational content is created and shared by experienced teachers from various colleges and universities.
The students also have the option to access premium content and clear various doubts by subscribing to LectureNotes Prime. The free and premium content enables students to study at their own pace and convenience. They make the students focus on understanding concepts and participating in discussions while attending classes.
At the same time, the content enables teachers to convert conventional classrooms into flipped classrooms without investing extra time and effort. The importance of LectureNotes for engineering students can be determined from the fact that a student spends 17 minutes of her digital media time on the innovative platform.
Achieving New Milestones
The growth of startups is often measured based on the new milestones achieved by them. LectureNotes is one of the edtech startups in India which has been achieving new milestones on a regular basis. The number of students and teachers joining the community drive platform has been increasing consistently. At present, the user base of the platform includes over 25000 teachers and 1 million students.
Also, various initiatives taken by the LectureNotes team persuades students to spend more digital time on the innovative digital platform. At present, the average time spent by students on LectureNotes stands at 17 minutes. However, the average time has been increasing consistently. At the same time, LectureNotes has been expanding its operations and sustaining business growth by raising angel funding.
According to EdTechReview.in, “Bhubaneshwar-based education technology startup LectureNotes has raised an angel funding of Rs.2.5 crore from HNIs, an investor group based in Singapore.” LectureNotes will utilize the investment to build an AI platform that will focus on fostering reading habits, persuading students to study, developing skills, and building successful careers.
The edtech startup has already implemented some of these ideas by launching new programs like LectureNotes Prime and LectureNotes Campus Ambassador. LectureNotes will continue to grow rapidly by launching innovative programs and leverage emerging technologies in both short and long runs.
