Ed-tech start-up Doubtnut raises £ 224 crore in latest funding
The company said it would use the capital to expand the product to more languages and subjects and launch new paid courses.
Founded in 2016, Doubtnut offers an online learning platform for K12 students and those preparing for IIT-JEE and NEET. The company focuses on students of the vernacular. It also uses cutting edge technologies such as artificial intelligence and machine learning for image recognition and natural language processing. The company also offers video solutions.
Its content catalog includes live lessons, video lectures, test sets and other learning materials for grades 6 to 12 and test preparations for IIT-JEE and NEET. The startup claims to have more than 2.5 million daily active users who spend 600 million minutes per month on Doubtnut platforms.
Doubtnut was built with a vision to improve learning outcomes for all students, especially those outside of major Indian cities. We specialize in the development of vernacular content and use technology to create affordable solutions for people in this broad target segment, said Tanushree Nagori, Co-Founder and CEO of Doubtnut, adding, We are pleased to welcome on board SIG and Lupa; SIG brings a solid track record of investing in electronics technology companies on a global scale and Lupa Systems brings unparalleled experience in building world-class businesses and leveraging high impact technologies. “
Prior to the latest financing, Doubtnut had raised capital from venture credit firm InnoVen Capital in October of last year. In its Series A funding, the ed-tech startup had raised $15 million from Tencent and existing investors Omidyar Network India, AET, Japan and Ankit Nagori, and Sequoia Capital India.
