Doubtnut Raises INR 224 Cr in Series B Funding Led By SIG And Lupa Systems
The round saw participation from existing investors Sequoia Capital India, Omidyar Network India and Waterbridge Ventures. The funds raised will be used to expand the product into more languages and curriculum subjects and to launch new paid courses.
February 25, 2021- Doubtnut, India’s leading K12 EdTech platform for “vernacular first” students, has raised an investment of INR 224 Crores from SIG and Lupa Systems. Existing investors Sequoia Capital India, Omidyar Network India and Waterbridge Ventures also participated in the round. Avendus Capital acted as the exclusive financial advisor to Doubtnut on this transaction.
Doubtnut was founded by Tanushree Nagori and Aditya Shankar in 2017. Ravi Sekhar who joined Doubtnut as a Co-Founder in March 2020 and has successfully monetized several consumer-facing tech businesses, including in ed-tech.
Doubnut is a multi-lingual doubt-solving platform that uses artificial intelligence and machine learning for image recognition, natural language processing and proprietary algorithms to provide video-based solutions. The company has gotten good traction within its structured paid courses which include live tuition classes, video lectures, test series and other learning materials for classes 6-12th and test preparations for IIT-JEE and NEET.
“Doubtnut has been built with a vision to improve learning outcomes for all students, especially those outside the major Indian cities. We specialize in developing content in vernacular languages and use technology to create affordable solutions for people in this large target segment,” said Tanushree Nagori, Co-Founder and CEO, Doubtnut, adding, “We are pleased to welcome onboard SIG and Lupa; SIG brings in strong experience of investing in ed-tech companies globally and Lupa Systems brings unparalleled experience of building world-class businesses and harnessing high-impact technologies”
In October last year, the platform had also raised capital from venture debt firm InnoVen Capital