This Two-Year-Old Indian Education Start-up Has Just Raised $15 Million
Harin - Feb 11, 2020
A Gurgaon-based edtech start-up has created an app called Doubtnut to teach students math and science concepts through short videos.
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Every individual deserves to have the best education. At 74%, India has a low literacy rate and is lagging behind many other developing countries. To boost the growth of education, start-ups like Byju’s, Unacademy and Vedanutu have taken action.
A Gurgaon-based edtech start-up has created an app to teach students math and science concepts through short videos.
Called Doubtnut, the app has raised S15 million. With this financing round, the two-year-old start-up’s goal is to help people living in small cities across the country.
Doubtnut’s targeted users are from sixth graders to high schoolers. Users can use the camera of their smartphones to take pictures of the problems. Then the app uses image recognition and machine learning to offer a solution through a short video.
A student can share the picture via the Doubtnut website, app, YouTube or even WhatsApp. And they will receive a video with steps showing how to tackle the problem.
According to the start-up, it has already had over 13 million active users. Most of them are living in small towns and cities. Doubtnut’s co-founder, Tanushree Nagori, said that half of the users registered last year.
The start-up received the Series A funding from Tencent, the Chinese company behind PUBG. Existing investors include AET Japan, Omidyar Network India, Sequoia Capital India, and Ankit Nagori.
After the recent financing round completed, the two-year-old has received a total funding of $18.5 million. Its current valuation is around $50 million.
The emergence of edtech start-ups shows how the education system of the country is changing. Today, students don’t have to find an external tutor to help them with problems. Platforms like Byju’s, GradeUp and Unacademy have experienced immense growth.