Doubt-solving platform Doubtnut raises Rs 224 cr
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
Leading multilingual doubt-solving platform platform Doubtnut on Thursday announced it has raised Rs 224 crore in series B funding led by SIG and Lupa Systems.
Existing investors Sequoia Capital India, Omidyar Network India and Waterbridge Ventures also participated in the funding round.
The funds raised will be used to expand the product into more languages and curriculum subjects and to launch new paid courses," the company said in a statement.
"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 CEO, Doubtnut.
Doubnut uses artificial intelligence and machine learning for image recognition, natural language processing and proprietary algorithms to provide video-based solutions.
More than 2.5 million daily active users are spending 600 million minutes per month on Doubtnut platforms, the company said.
The Doubtnut app offers solutions to more than 65 million questions monthly in nine languages for students of CBSE and 15 state boards.
Doubtnut raised capital from venture debt firm InnoVen Capital in October last year.
