Indian edtech startup Doubtnut raises $31m led by SIG, Lupa Systems

Gurugram-based K-12 edtech startup Doubtnut said it has raised Rs224 crore in a Series B funding round from SIG and Lupa Systems. Existing investors Sequoia Capital India, Omidyar Network India, and Waterbridge Ventures also participated in the round.

Doubtnut will use the funds to expand into more languages and subjects as well as launch new paid courses.

The round came after talks of a potential acquisition by edtech unicorn Byju’s failed last year due to differences in valuation.

Four-year old Doubnut is a multi-lingual, doubt-solving platform that uses artificial intelligence and machine learning to provide video-based solutions. The company claims to have gotten good traction within its structured paid courses which include live tuition classes, video lectures, test series, and other learning materials for classes 6-12 and test preparations for IIT-JEE and NEET.

“Doubtnut has been built with a vision to improve learning outcomes for all students, especially those outside the major Indian cities. We specialise in developing content in vernacular languages and use technology to create affordable solutions for people in this large target segment,” said Tanushree Nagori, co-founder and chief executive, Doubtnut.

More than 2.5 million daily active users spend 600 million minutes per month on Doubtnut platforms, the company claims.

Currently, the Doubtnut app offers solutions to more than 65 million questions monthly in nine languages for students of CBSE and 15 state boards.

This article was first published on livemint.com

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.