Mumbai-based edtech startup Lido Learning has raised $10 million in a funding round led by Ronnie Screwvala's Unilazer Ventures.
According to the statement, the raised funding will help Lido Learning for the expansion of its market presence in the country. the startup also intends to expand in international areas such as UK, Australia, New Zealand, and South East Asia in early 2022.
The startup will also strengthen its capabilities in its existing areas that include Middle-Eastern, American, and Canadian operations, the statement said. Additionally, It is also on a target to reach a $100 million run rate by the end of the fiscal year, the statement adds.
“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 recognize 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,” said Sahil Sheth, Founder, and CEO of Lido Learning.
Lido Learning is an ed-tech firm that is transforming conventional classroom education in India by providing every child with access to a unique and immersive online classroom.
The startup said it will introduce some new learning programs for students from KG to class 12 in all its geographies. The subjects that mainly the startup focus on include Maths, Science and English.
Earlier this month, it had launched a coding program, ‘Pair Learning’ in the United States and Canada, bringing its code tutoring experience to international markets.
While talking about the collaboration, Ronnie Screwvala, Founder – 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 neighborhood tuition market.”