[Funding alert] Paytm President, Rocket Internet Founder and others invest $3M in edtech startup Lido Learning

[Funding alert] Paytm President, Rocket Internet Founder and others invest $3M in edtech startup Lido Learning

After protecting a $ 3 million seed financing in November in 2015, Mumbai-based edtech start-up Lido Learning has actually now raised another $3 million within simply a year of creation. The current financiers coming onboard this round consist of Picus Capital backed by Rocket Internet Founder Alex Samwer, and President of Paytm, Madhur Deora.

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Florian Reichert, a partner at Picus Capital, stated,

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” Lido Learning has actually developed an extremely detailed and targeted item to take the Indian tutoring market online and to provide genuine worth to its trainees. The incredible development in the months considering that launch has actually proofed the excellent product-market fit they have actually discovered.” ” &#xA 0;

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Lido Learning is Picus &#x 2019; very first financial investment in the edtech area and among its very first in India. &#xA 0;

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Paytm President, Madhur Deora, included, &#xA 0;

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&#x 201C; Lido is resolving a huge market chance, and has actually developed extraordinary momentum and a rockstar management group. &#x 201D;

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Piloted by 2nd time ed-tech business owner Sahil Sheth who had actually offered his previous business to Byju &#x 2019; s in 2015, Lido’s existing financiers consist of Ronnie Screwvala (Founder, Unilazer Ventures ), Ananth Narayanan( CEO, Medlife), Vikrampati Singhania( MD, JK Tyres ), Anupam Mittal (CEO, Shaadi.com), Mayank Kumar (Founder, upGrad), Javed Tapia (Founder, Clover Infotech), Arihant Patni (MD, Patni Wealth Advisors), to name a few.

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Talking about future development, Founder and CEO Sahil Sheth stated, &#xA 0;

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&#x 201C; Lido Learning is actively interrupting the K-12 market. Thinking about the present international pandemic, finding out online has actually ended up being the requirement of the hour. This is pulling the Indian market towards embracing online tutorials much faster than at first anticipated and is a substantial tailwind allowing us to end up being a dominant classification developer within a brief period of time &#x 201D;. &#xA 0;

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Founded in 2019, Lido Learning uses live tutoring and customised online training sessions to trainees 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 trainees, consisting of functions like interactive sessions, engaging tests and immersive video games. The app is offered on Google Play Store.

According to a Google and KPMG report, secondary and main extra education will be the biggest classification in online education by 2021 growing at a CAGR of 60 percent. Benefiting from the quick web penetration throughout India, Lido Learning presses discovering results through a 6:1 student-teacher ratio, frontier innovations, customised material and more. It is broadening from cities to Tier-II and Tier-III cities.

( Edited by Kanishk Singh)

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