Gurugram based edtech startup Doubtnut, has raised an investment of INR 224 Crores from SIG and Lupa Systems. The round also saw participation from existing investors Sequoia Capital India, Omidyar Network India and Waterbridge Ventures while Avendus Capital acted as the financial advisor to Doubtnut on this transaction.
Founded by Tanushree Nagori and Aditya Shankar in 2017, Doubtnut is a K12 EdTech platform for “vernacular first” students. The startup helps K12 students solve doubts through video based solutions. Doubtnut renders structured paid courses which include live tuition classes, video lectures, test series and other learning materials for classes 6-12th and test preparations for IIT-JEE and NEET.
Speaking about the fundraise, Tanushree Nagori, Co-Founder and CEO, Doubtnut said, “Doubtnut has been built with a vision to improve learning outcomes for all students, especially those outside the major Indian cities. We specialize in developing content in vernacular languages and use technology to create affordable solutions for people in this large target segment. We are pleased to welcome onboard SIG and Lupa; SIG brings in strong experience of investing in ed-tech companies globally and Lupa Systems brings unparalleled experience of building world-class businesses and harnessing high-impact technologies.”
Doubtnut platform receives over 2.5 million daily active users who spend 600 million minutes per month on the platform.
In a statement the company said that the funds raised will be used to expand the product into more languages and curriculum subjects and to launch new paid courses.
