Gurgaon-based Doubtnut, a multi lingual online learning platform for students today announced that it has raised a pre-series A round amounting to ₹3.5 crore led by WaterBridge Ventures with participation from Omidyar Network. The startup plans to use the capital to expand its platform, add more subjects, support more Indian languages and accelerate the development of several exciting new product features.
With this funding, Sarbvir Singh, Partner at WaterBridge Ventures, will join Doubtnut’s Board of Directors and Omidyar Network will also appoint a Director to the Board.
Founded in 2016 by IIT-Delhi alumni Tanushree Nagori and Aditya Shankar, Doubtnut is a multi-lingual online learning platform for students. With its Android app, students can find the answer to a question by simply clicking the image of the question on the app. The application uses advanced artificial intelligence technologies to decipher the question from the image and consequently serve the corresponding video solution from Doubtnut’s library. The company has created one of the world’s largest library of curriculum specific educational content videos.
Tanushree Nagori, cofounder of Doubtnut said, “Aditya and I are passionate about improving the level of education in India. We sincerely believe that good education is a fundamental right of every child and we, at Doubtnut, are committed to provide world-class education in the most economical way possible to every student in India.”
“Doubtnut aims to impart world class learning to students by leveraging cutting edge technology, such as Machine Learning driven Math Image Recognition, and burgeoning information inclusivity in India,” added Aditya Shankar, cofounder at Doubtnut.
Sarbvir Singh, partner at WaterBridge Ventures said, “We believe that a student first, multi lingual approach is needed if educational initiatives are to work at scale in the country. Students need on-demand solutions to problems in a language that they can understand. We look forward to working with Aditya and Tanushree to make their vision a reality”.
“Doubtnut’s innovative solutions will meet the needs of millions of Indians students by providing real time answers to their questions,” said Namita Dalmia, principal at Omidyar Network. “We met Aditya and Tanushree through the accelerator program we supported with Village Capital in 2017. They are highly capable and passionate entrepreneurs who leveraged the program and substantially refined their product and business model. We are excited to be part of the next step of their journey.”
Speaking about WaterBridge Ventures, it is a venture capital firm investing in early stage ventures. With with offices in Delhi and Bengaluru, WaterBridge invests across seed to Series A stages with a first investment cheque size of up to $1 million and is generally the first institutional investor in promising startups. WaterBridge also has a Scout program where it engages with Founders at a very early stage of their ventures. In last May, it participated in $7 million funding of hyperlocal discovery startup MagicPin. Prior to that it also participated in $1 million funding of Unacademy,an Indian free online learning platform.
The Ed-Tech startup space is seeing a lot of activities of late. To recall, last month, an another edtech startup from Bengaluru IMAX Program has raised $13.5 million from the Michael & Susan Dell Foundation, LGT Impact Ventures and existing investor Aspada.
In the same month, former CEO and co-founder of Infosys Shibulal has launched EduMentum — an incubator for early-stage startups working in the space of offline education transformation.
In January, an another Ed-tech start up GreyAtom has raised a $1M funding round led by early-stage fund Pravega Ventures. In the same month, Bengaluru-based enterprise platform for educational institutions CollPoll has raised its pre-series A funding round led by Manipal Global Education Services (MaGE).
In November 2017, AEON Learning Private Limited, which is backed by Kris Gopalkrishnan, acquired Acadgild, an online edtech startup, for $10 million in an all stock deal.
In the same month, an another edtech startup Perspectico raised seed funding from Delhi University and Government of Delhi Incubator.
Additionally, AICTE tied-up with Fourth Ambit, a Kerala-based edtech startup, to connect over 10,000 tech insitutes across India through online portals.