1 min read.Updated: 10 Sep 2021, 04:04 PM ISTLivemint
Lido Leaning plans to launch its platform in the UK, Australia, New Zealand and South East Asia by early 2022. It is already present in the Middle-East, the US, Canada, among others
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BENGALURU: Homegrown edtech startup Lido Learning on Friday said it has raised $10 million, led by Ronnie Screwvala’s Unilazer Ventures.
Lido Learning said it will use the funds to fuel its expansion plans in India as well as abroad. It will also launch its user app to give students access to free curriculum-aligned video content for life.
Earlier this week, Lido Learning announced its entry into the US and Canada, with its flagship coding programme using the ‘pair learning’ methodology, consisting of two students per teacher to facilitate faster learning, deeper interactions, and real-time problem solving.
With this round, Lido Learning has so far raised $20 million from marquee institutional investors such as Alibaba-backed BACE Ventures, Rocket Internet-backed Picus Capital, and 9 Unicorns, along with leading entrepreneurs like Vijay Shekhar Sharma, Mukesh Bansal, Anupam Mittal, Ananth Narayanan, amongst others.
Two-year old Lido Learning provides small-group online tutoring to kindergarten to grade 12 students. It offers classes in maths, science, coding and English.
“Lido is the first in the country to recognise the power of learning in small groups, while being enabled by technology, for faster learning and success. We’re going to use this new round of capital to ensure that our classes are accessible to students from every corner of India as well as the world. We’re going to double down on our efforts to connect students with India’s exceptionally well-qualified and dedicated teaching talent," said Sahil Sheth, founder and chief executive officer, Lido Learning.
The edtech claims that it is on track to reach a $100 million in revenue run rate by the end of the current financial year.
“Lido is the first mover in the small-group, online tuition space. The company has differentiated itself from the start from all other players that primarily offer self-directed learning or large-group classes. Lido’s strategy of immersive learning and rewarding positive learning outcomes has ensured that it is best-positioned to consolidate the $15 billion neighbourhood tuition market," said Ronnie Screwvala, founder of Unilazer Ventures.