Edtech startup Lido will be using the funding to expand in the UK, Australia, New Zealand and South East Asia in early 2022, in addition to its existing Middle-Eastern, American, and Canadian operations.
On Friday, an Edtech startup platform Lido Learning raised $10 Million from Ronnie Screwvala-helmed Unilazer Ventures.
The edtech 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.
The Founder and CEO of Lido Learning, Sahil Sheth, said “We will double our efforts to reach more students all over the world with the help of this funding round, we will offer quality education with the help of our well-qualified and dedicated teaching talent. Lido Learning was the first of its kind in the country to recognise the power of learning in small groups. Up till now with the help of technology we have achieved great success in India. Now we want to take it to the rest of the world”.
Lido Learning has so far raised $20 million from marquee institutional investors such as Alibaba-backed BACE Ventures, and Rocket Internet-backed Picus Capital, along with leading entrepreneurs including Vijay Shekhar Sharma, Mukesh Bansal, Anupam Mittal, and Ananth Narayanan, among others.
The Edtech startup Lido Learning earlier in this week announced that it has entered into the US and Canada market with its flagship program of “Pair Methodology “ which has just 2 students per teacher which will help in faster learning, deeper interactions and real-time problem solving. Lido Learning helps students in combining their individual passion with coding.
Lido Learning stated it is currently on track to reach a $100 million run rate by the end of the financial year. The startup helps students learn and practise critical thinking and problem-solving skills in real-time, instead of focusing purely on programming skills.
Ronnie Screwvala, Founder of Unilazer Ventures, said, “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 neighbourhood tuition market.”