After securing a $3 million seed funding in November last year, Mumbai-based ed-tech startup Lido Learning has now raised another $3 million within just a year of inception. The latest investors coming onboard this round include Picus Capital backed by Rocket Internet Founder Alex Samwer, and President of Paytm, Madhur Deora.
Online education startup Lido Learning said on March 30, it raised a funding round of $3 million from Paytm President Madhur Deora, and Picus Capital, a fund started by Alex Saver, formerly with German internet firm Rocket Internet.
Lido provides interactive tutoring to school students. The online education sector in India has grown big following the success of Byju’s, one of India’s most valuable startups. Lido’s founder Sahil Sheth was earlier a vice president at Byju’s.
About the App (Lido Learning):
“Lido Learning is actively disrupting the K-12 market. Considering the current global pandemic learning online has become the need of the hour. It is pulling the Indian market towards adopting online tutorials much faster than initially expected and is a huge tailwind enabling us to become a dominant category creator within a short period,” Sheth said in a statement.
Founded in 2019, Lido Learning offers live tutoring and personalised online coaching sessions to students from Class V-Class IX in Math and Sciences from both CBSE and ICSE boards. The platform characterises itself as an online immersive live tutoring platform for students including features like interactive sessions, engaging quizzes and immersive games. The app is available on Google Play Store.
According to a Google and KPMG report, primary and secondary supplementary education will be the largest category in online training by 2021, growing at a CAGR of 60 per cent. Taking advantage of the rapid internet penetration across India, Lido Learning pushes learning outcomes through a 6:1 student-teacher ratio, frontier technologies, personalised content and more. It is expanding from metros to Tier-II and Tier-III cities.
The Mumbai-based startup raised $3 million in a seed funding round in November 2019 from angel investors, including Ronnie Screwvala (Founder, Unilazer Ventures), Ananth Narayanan (CEO, Medlife), and Anupam Mittal (CEO, Shaadi.com).
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