Doubtnut, an Indian startup that helps college students study and grasp ideas from math and science utilizing brief movies, has raised $31 million in a brand new financing spherical, months after it rejected an acquisition provide from India’s largest edtech agency Byju’s.
The three-year-old Gurgaon-headquartered startup mentioned SIG and James Murdoch’s Lupa Methods led the $31 million Sequence B funding spherical. Present traders Sequoia Capital India, Omidyar Community India and Waterbridge Ventures additionally participated within the spherical, which brings the startup’s to-date increase to about $50 million up to now.
The Doubtnut app permits college students to take an image of an issue, and makes use of machine studying and picture recognition to ship their solutions by way of short-videos. These movies provide college students step-by-step directions to resolve an issue.
The app helps a number of languages, and has amassed over 2.5 million each day energetic customers who spend 600 million minutes a month on the app, the startup mentioned. Greater than half of the customers have come on-line for the primary time in final 12 months, the startup mentioned.
The startup mentioned it has developed a financial institution of over 65 million questions in 9 languages for college students from sixth grade to high-school. Not like a number of different in style edtech companies, Doubtnut mentioned its app reaches college students in smaller cities and cities. “85% of the present base comes from exterior of the highest 15 Indian cities, and 60% customers examine in state boards the place typical medium of instruction is the native vernacular language,” the startup mentioned.
TechCrunch reported final 12 months that Byju’s was in talks to amass Doubtnut for as a lot as $150 million. Byju’s later lowered its deal provide, after which the 2 companies ended their talks.
James Murdoch final month introduced he was reuniting with Uday Shankar, an govt who helped him construct the Murdoch household’s Star enterprise in India, which was later offered to Disney. Shankar will work with Murdoch to “speed up” Lupa’s efforts in India, Murdoch mentioned final month. Lupa has backed practically a dozen startups up to now, together with Indian information aggregator and social app DailyHunt.
“Doubtnut has been constructed with a imaginative and prescient to enhance studying outcomes for all college students, particularly these exterior the most important Indian cities. We concentrate on creating content material in vernacular languages and use expertise to create reasonably priced options for folks on this massive goal section,” mentioned Tanushree Nagori, co-founder and CEO of Doubtnut, including,
“We’re happy to welcome onboard SIG and Lupa; SIG brings in robust expertise of investing in ed-tech corporations globally and Lupa Methods brings unparalleled expertise of constructing world-class companies and harnessing high-impact applied sciences,” she added.
The startup mentioned it’s going to deploy the contemporary capital so as to add assist for extra language and broaden the scope of topics it covers as we speak. Doubtnut can also be planning to introduce paid programs.