Mumbai-based online tutoring startup Lido Learning has raised $10 million in a fresh funding round led by Ronnie Screwvala-helmed Unilazer Ventures.
With the new round of investment, the company plans to utilize the funds in its 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.
Lido Learning provides live online classes for class students offering classes for Maths, English, and science. It also offers classes in a group of six students or less and its features include self-paced lessons, discussion-based classes, personalized practice, performance tracking, and more.
Founded in 2019 by Sahil Sheth, the company has also started expanding its offerings from metros to Tier II, Tier III cities and promoted the kids coding vertical as its anchor product offerings. It’s worth noting that all kid's coding platforms have been able to catch the eye of potential investors in the past year.
The 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.
Commenting on the new funding, Sahil Sheth, Founder & CEO of Lido Learning, said,
"Lido is the first in the country to recognize the power of learning in small groups, while being enabled by technology, for faster learning and success. We’re going to use this new round of capital to ensure that our classes are accessible to students from every corner of India as well as the world. We’re going to double down on our efforts to connect students with India’s exceptionally well-qualified and dedicated teaching talent."
Lido Learning said that it is currently on track to reach a $100 million run rate by the end of the financial year. The platform helps students learn and practice critical thinking and problem-solving skills in real-time, instead of focusing purely on programming skills.
Ronnie Screwvala, Founder of Unilazer Ventures, also commented,
"Lido is the first mover in the small-group, online tuition 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 neighborhood tuition market."
Earlier this week, the company announced its entry into the US and Canada with its flagship coding program using the ‘Pair Learning’ methodology, with just two students per teacher to facilitate faster learning, deeper interactions, and real-time problem-solving. Lido’s coding curriculum lays great focus on empowering students to combine coding with their own individual passions, to create learning experiences that are fun and memorable. It helps students learn and practice critical-thinking and problem-solving skills in real-time, instead of focussing purely on programming skills.
Lido Learning'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.
In November 2019, the startup raised $3 million in its Series A funding round, from Screwvala and Ananth Narayanan, founder of Mensa Brands, among other high net-worth individual investors.
Lido Learning has so far raised $20 million from marquee institutional investors such as Alibaba-backed BACE Ventures, Rocket Internet-backed Picus Capital, and 9 Unicorns along with leading entrepreneurs like Vijay Shekhar Sharma, Mukesh Bansal, Anupam Mittal, Ananth Narayanan, amongst others.