Mumbai-based education technology startup Lido Learning, an online tutoring platform, has raised $3 million in a Series A funding round led by Ronnie Screwvala (Chairman, upGrad), Ananth Narayanan (CEO, Medlife), Vikrampati Singhania (MD, JK Tyres), Anupam Mittal (CEO, Shaadi.com) Arihant Patni (MD, Patni Wealth Advisors), among others.
Founded in April 2019 by Sahil Sheth, Lido Learning is revolutionizing traditional tutorials by offering live tutoring and personalized online coaching sessions. Currently, the startup caters to students from classes 5 to 8, offering year-long coaching classes in Maths and Science from both ICSE and CBSE boards through an integrated online platform that combines engaging content with expert tutors from across the country.
Lido Learning provides state-of-the-art online classroom with virtual experiments, interactive sessions, engaging content, guided unlimited practice, immersive games and quizzes with real-time results. Lido’s online tutoring session has a maximum student to teacher ratio of 6:1 to ensure that each student receives enough coaching, feedback and doubt clearing. The startup claims that within a few weeks of learning on Lido, students are performing 20% better on classroom tests and are feeling more prepared and confident to participate in class.
Speaking about the company and giving a slight hint on its future course of action, Lido Learning said in a statement,
“Given its futuristic platform, engaging content and highly skilled teachers and mentors, Lido is expected to disrupt the existing K-12 edtech industry through a massive improvement in quality while being affordable to the average student.”
The startup said that within three months of operations, it has gained incredible traction and is expanding rapidly across the country.
Ronnie Screwvala, Chairman, upGrad, commented on the investment saying,
“Edtech is presently under invested but is a massive opportunity in India. Online tutoring is very nascent and Lido has a clear opportunity for market leadership with the strong product and tech it has developed. They are onto something very big here.”
Meanwhile, according to a Google-KPMG report, the online education market in India is expected to grow dramatically in the next two years to around 10 million users. Interestingly, this is still just a fraction of the Indian market that has over 250 million students currently enrolled in schools. Knowing that the potential for future growth is tremendous, Lido Learning aims to provide a personalized learning experience to every student – 260 million classrooms for 260 million students. Hope the new investment will help the startup draw closer to its goals.