Elearning platform Lido Learning is planning to raise $30 million funding from Temasek, Singapore-based investment fund.
Lido Learning was founded in 2019 by second time ed-tech entrepreneur Sahil Sheth. Seth had earlier founded Infinite Student which was later acquired by edtech unicorn BYJU’S in 2015. Post the acquisition of his first startup, Seth joined BYJU’S as Vice President.
Lido’s existing investors include Ronnie Screwvala (Founder, Unilazer Ventures), Ananth Narayanan (CEO, Medlife), Vikrampati Singhania (MD, JK Tyres), Anupam Mittal (CEO, Shaadi.com), Mayank Kumar (Founder, upGrad), Javed Tapia (Founder, Clover Infotech), Arihant Patni (MD, Patni Wealth Advisors), among others.
Speaking about Lido’s scope in the edtech market, Paytm President, Madhur Deora said, “Lido is addressing a massive market opportunity, and has built incredible momentum and a rockstar management team.”
Talking about future growth, Founder and CEO Sahil Sheth in a statement said, “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”.
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.