Companies

Edtech platform Doubtnut raises ₹224 crore from SIG and Lupa Systems

Our Bureau Bengaluru | Updated on February 25, 2021

The funds will be used to expand the product into more languages and curriculum subjects; launch new paid courses

Doubtnut, India’s leading K12 edtech platform for “vernacular first” students, has raised investment of ₹224 crore from SIG and Lupa Systems. Existing investors Sequoia Capital India, Omidyar Network India and Waterbridge Ventures also participated in the round.

The funds raised will be used to expand the product into more languages and curriculum subjects and to launch new paid courses, the company said in a statement. Avendus Capital acted as the exclusive financial advisor to Doubtnut on this transaction.

Doubtnut 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 offers 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. More than 2.5 million daily active users spend 600 million minutes per month on Doubtnut platforms.

“Doubtnut has been built with a vision to improve learning outcomes for all students, especially those outside the major Indian cities. 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” said Tanushree Nagori, co-founder and CEO, Doubtnut.

Founded by Tanushree Nagori and Aditya Shankar in 2017, the Doubtnut app offers solutions to more than 65 million questions monthly in 9 languages for students of CBSE and 15 state boards. Doubtnut’s vast reach is reflected through 85 per cent of its current user base coming from outside the top 15 Indian cities and 60 per cent of the current user base from state boards where the typical medium of instruction is the local vernacular language. More than half of the users have come online for the first time in the last 12 months

Published on February 25, 2021

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