India Deal Monitor: Picus Capital backs Lido Learning and more updates

Mumbai-based edtech startup Lido Learning has raised $3 million in a Series B funding round from Rocket Internet founder Alex Samwer-backed Picus Capital, and Paytm president Madhur Deora.

Founded in April 2019 by Sahil Sheth, Lido learning raised $3 million as part of its Series A funding round from a clutch of investors just four months back in November last year. Other investors in the startup include Ronnie Screwvala (Chairman, Upgrad), Ananth Narayanan (CEO, Medlife), Vikrampati Singhania (MD, JK Tyres), Anupam Mittal (CEO, Shaadi.com), and Arihant Patni (MD, Patni Wealth Advisors), among others.

Lido Learning offers coaching in mathematics and science to students from classes five to eight through an integrated online platform.

“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,” Sheth said.

INDIA DEAL MONITOR

Here are some prominent venture capital transactions in India from March 26-30, 2020.

Expand Table

StartupHeadquarterInvestment Size (USD)Investment StageLead Investor(s)Other Investor(s)Sector
Lido LearningMumbai3 millionPicus Capital, Madhur Deora-EdTech
ZealthyBengaluru-SeedKYT Ventures, First Cheque, AngelList-Healthcare
RupifiBengaluru-Pre-SeedAshneer Grover, Kunal Shah, Ramakant SharmaBetter Capital, AngelList Syndicate, Cloud CapitalFinTech
Insurance SamadhanDelhi-SeedVenture Catalysts-InsurTech

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.

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.