Here is another Edtech startup in the news. Lido learning was founded in 2019 by Sahil Sheth. The edtech startup has recently raised Rs 30 crores in a seed-1 round. Investors that participated in the round were Nidhi Arora, Vijay Shekhar Sharma’s VSS Investco, S.Chand & Co, Sanjay Kapoor and Felix Ohswald. Many angel investors and family offices also participated in the round.
About Lido Learning
Lido Learning provides online classes for students studying in classes from 4-9. Students can learn Maths, Science, English and even coding from the new platform. The startup claims to have over 1 lakh students on their site and more than 4,80,000 courses for them. Lido Learning is suitable for ISCE, CBSE and also state boards.
The Mumbai based startup has experienced and fun teachers on their platform and also many great reviews. One of the parents on the site said:
“My son is so excited to learn coding. Everything from the teacher, to the platform, to the classes, is top-notch! Great to see him learn and grow. Every single day!”
While another parent took pride in how her daughter is speaking fluent English, she said, “It’s been 3 months since I enrolled my daughter in English with Lido, and now she speaks in English only – and she sounds just so confident”.
Details about the investment
Out of the 30 crores received by the Edtech startup, not all details on funds is out. But, we do know the investments made by some specific individuals. Nidhi Arora has invested Rs 3.5 crore in the platform while S.Chand & Co, Vijay Shekhar Sharma’s VSS Investco, Sanjay Kapoor and Felix Ohswald have poured in Rs 1 crore each.
The company is backed by a lot of investors, many of which are well-known prominent business personality. Some of the investors are Paytm president Madhur Deora, CEO of Shaadi.com Anupam Mittal, Rocket Internet founder Alex Samwer-backed Picus Capital, MD of Patni Wealth Advisors Arihant Patni, and many others.
Though a lot of investors backs the company, the founder Sahil Sheth is still the major stakeholder of Lido Learning. Other stakeholders in the company are BAce capital with 9.39%, UpGrad founder Screwvala with 15.19% stake, and Juneja Family Trusts holds around 3.35% stake.
What do you think will so many Edtech startups make the market unsustainable after a point? Do let us know in the comments below. If you found our content informative, do like and share it with your friends.
Read AIRPODS STUDIO: NEW APPLE HEADPHONES JOINING THE AIRPODS FAMILY- EVERYTHING WE KNOW.
