Lido Learning raises $3 mln from Paytm exec, Picus Capital, others

NEW DELHI: Ed-tech platform Lido Learning on Monday said it has raised USD 3 million from Rocket Internet founder Alex Samwer-backed Picus Capital and Paytm President Madhur Deora, among others.

The Mumbai-based company had previously raised USD 3 million in November last year led by investors like Ronnie Screwvala, Ananth Narayanan, Vikrampati Singhania and others.

"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," Lido Learning founder and CEO Sahil Sheth said in a statement.

Lido Learning provides live, interactive tutoring sessions to students and parents that push learning outcomes through a 6:1 student-teacher ratio, frontier technologies, and personalised content. It is expanding from metros to Tier II and Tier III cities.

According to a Google and KPMG report, primary and secondary supplementary education will be the largest category in online education by 2021 growing at a CAGR of 60 per cent.

"The tremendous growth in the months since launch has proved the great product-market fit they have found. We are excited to be a part of the vision of improving the access to and quality of education - one of India's largest and most important sectors - together with such a strong team," Florian Reichert, partner at Picus Capital, said in a statement.

Lido Learning is Picus' first investment in the education-technology space and one of its first in India.