Lido Learning raises $10 million funding from Ronnie Screwvala's Unilazer Ventures
New Delhi: Edtech startup recreation facility Learning on Friday aforesaid it's raised $10 million (about Rs seventy-three. 4 crores) from Ronnie Screwvala's Unilazer Ventures. The company has raised $20 million to date from marquee investors like BACE Ventures, Bird Genus Capital, 9 Unicorns, Paytm founder Vijay Shekhar Sharma, Mukesh Bansal, Anupam Mittal, Ananth Narayanan et al.
Lido Learning, in an exceeding statement, aforesaid it's presently on the right track to succeed in a $100 million run rate by the finish of the twelvemonth.
Since its inception in 2019, recreation facility learning has provided classes in Math, Science, Coding, and English to college students from Kindergarten to Grade 12.
The company plans to use the new spherical of capital to fuel its aggressive expansion plans in Bharat as well as abroad.
"Plans are in situ to launch in Great Britain, Australia, New Zealand, and South East Asia in early 2022, in addition to its existing Middle-Eastern, American, and Canadian operations," the statement said.
Lido is the first in the country to acknowledge the facility of learning in tiny teams, while being enabled by technology, for quicker learning and success. We're aiming to use this new sphere of capital to make sure that our categories are accessible to students from each corner of Bharat and the world, "recreation facility Learning founder and chief government Sahil Sheth said.
He said that the company is "going to double down on our efforts to attach students with India's exceptionally qualified and dedicated teaching talent".
Earlier in the week, recreation facility Learning had proclaimed its entry into the North American nation and North American country with its flagship committal to a writing program.
"Lido is the first mover within the small-group, online tuition house. Corporate has differentiated itself from the beginning from all the different players that primarily supply self-reliant learning or large-group categories, "Ronnie Screwvala, founding father of Unilazer Ventures, said.
Lido's strategy of immersive learning and rewardful positive learning outcomes has ensured that it's best-positioned to consolidate the $15 billion neighborhood tuition market, he added.
The edtech house has seen robust growth globally, as well as in Bharat, with the COVID-19 pandemic serving as an inflection point. Several offline categories went online to confirm continuity of education while adhering to social distancing norms.
Lido Learning's first-ever TV ad campaign can go live throughout the IPL season, together with the launch of its free user app to present students access to free curriculum-aligned video content forever.
