[Funding alert] Lido Learning raises $10M investment led by Unilazer Ventures
Edtech startuphas raised $10 million in a round led by Ronnie Screwvala-helmed Unilazer Ventures.
The team said the new round of capital will be used to further fuel Lido Learning’s aggressive international expansion plans, which include entering the UK, Australia, New Zealand, and South East Asia in early 2022, in addition to strengthening its existing Middle-Eastern, American, and Canadian operations. The edtech startup also aims to introduce classes in all these geographies in other subjects already being offered by the online learning startup at home, namely Maths, Science, and English, for students from KG to Grade 12.
Sahil Sheth, Founder and CEO, Lido Learning, said, “We’re going to use this new round of capital to double down on our efforts to connect students all over the world with India’s exceptionally well-qualified and dedicated teaching talent. Lido was 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 now want to take it to the rest of the world.”
Lido Learning has so far raised $20 million from marquee institutional investors such as Alibaba-backed BACE Ventures, and Rocket Internet-backed Picus Capital, along with leading entrepreneurs including Vijay Shekhar Sharma, Mukesh Bansal, Anupam Mittal, and Ananth Narayanan, among others.
Earlier this week, Lido Learning announced its entry into the US and Canada with its flagship coding programme with the ‘Pair Learning’ methodology, which has just two students per teacher to facilitate faster learning, deeper interactions, and real-time problem-solving. Lido’s coding curriculum aims to lay focus on empowering students to combine coding with their own individual passions, to create learning experiences that are fun and memorable.
Lido Learning stated it is currently on track to reach a $100 million run rate by end of the financial year. The startup helps students learn and practise critical thinking and problem-solving skills in real-time, instead of focusing purely on programming skills.
Ronnie Screwvala, Founder of Unilazer Ventures, said, “Lido is the first mover in the small-group, online tuitions 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.”
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