In a financing round led by Ronnie Screwvala’s Unilazer Ventures, the online tutorial platform Lido Learning has raised $10 million.
The company plans to use this new round of capital to fuel its expansion in India as well as abroad. Lido Learning’s first-ever TV advertisement will go live during the IPL season along with the launch of its free user app to give students access to free curriculum-aligned video content.
“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,” said Sahil Sheth, Founder and CEO, Lido Learning. “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.”
Earlier this week, Lido Learning announced its entry into the US and Canada, with its flagship coding programme using the ‘pair learning’ methodology, consisting of 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 passions, to create learning experiences that are fun and memorable. It helps students learn and practise critical thinking and problem-solving skills in real-time, instead of focussing purely on programming skills.
With this round, 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
Ronnie Screwvala, Founder of Unilazer Ventures, said Lido is the first mover in the small-group, online tuitions space. He said 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,” said Screwvala.
Lido Learning plans to launch its platform in the UK, Australia, New Zealand, and South East Asia by early 2020. It is already present in the Middle East, the US, Canada, among others.