Edtech startup Doubtnut has raised INR 224 Cr (about $31 Mn) in a round led by Hong Kong-based venture capital firm SIG Investments and James Murdoch’s Lupa Systems. Existing investors Sequoia Capital India, Omidyar Network India and Waterbridge Ventures also participated in this round. With this round, the edtech startup has raised close to $50 Mn to date.
Avendus Capital acted as the exclusive financial advisor to Doubtnut on this transaction.
Doubtnut was founded by IIT-Delhi alumni Tanushree Nagori and Aditya Shankar in October 2017. Vedantu’s former chief business officer Ravi Sekhar joined in as the cofounder of this edtech startup in March 2020.
The company offers a multilingual online learning platform using technologies such as image recognition, natural language processing and proprietary AI/ML algorithms. It provides video-based solutions to student queries.