After raising a $3 million seed funding round in the month of November last year, Mumbai based education tech startup Lido Learning has now secured another $3 million within a just year of inception.
The latest investor coming onboard includes the Picus Capital backed by the Rocket Internet Founder Alex Samwer, and President of Paytm, Madhur Deora.
Florian Reichert, a partner at Picus Capital, said,
“Lido Learning has built a very comprehensive and targeted product to take the Indian tutoring market online and to deliver real value to its students. The tremendous growth in the months since launch has proofed the great product-market fit they have found.”
Lido Learning is Picus’ first investment in the edtech space and one of its first in India.
Paytm President, Madhur Deora, added,
“Lido is addressing a massive market opportunity, and has built incredible momentum and a rockstar management team.”
Talking about future growth, Founder and CEO Sahil Sheth said,
“Lido Learning is actively disrupting the K-12 market. Considering the current global pandemic, learning online has become the need of the hour. This is pulling the Indian market towards adopting online tutorials much faster than initially expected and is a huge tailwind enabling us to become a dominant category creator within a short span of time”.