Edtech startup Doubtnut has raised $15 Mn in a fresh round of funding led by Tencent with participation from existing investors Omidyar Network India, Japan-based Akatsuki Entertainment Fund and Curefit founder Ankit Nagori along with Sequoia Capital India.
Prior to this, the company had raised Pre-Series A in March last year. Backed by Sequoia’s early-stage accelerator Surge, Waterbridge Ventures, Omidyar Network India and AET Fund, Doubtnut works with the K-12 education group and for test prep in IIT and engineering entrance tests.
Doubtnut said it will use the funds to widen its pan-India distribution, build on its content repository to cater to a fast expanding target group, invest in strengthening its technology stack, and scaling its team.
Founded by IIT-Delhi alumni Tanushree Nagori and Aditya Shankar in October 2017, Doubtnut offers a multilingual online learning platform using technologies such as image recognition, natural language processing and proprietary AI/ML algorithms. The company provides video-based solutions to student queries.
Learners can take photos of problems and questions and the Doubtnut app serves videos related to the solution from its content repository. It also recommends further learning content to these students to help them get a grasp of related topics or understand the fundamentals better. Doubtnut claims it can read questions in 11 Indian languages, as well as English.
Students simply snap a photo of a problem and the Doubtnut app serves up a video of the solution within 10 seconds, while simultaneously suggesting other concept videos to help students learn the topic better. The app can read questions in 11 Indian languages, as well as English. There are over 450,000 videos in their library and thousands more are being added each month.
Tanushree Nagori, Co-Founder, Doubnut, said, “We aim to use technology to provide a democratic, comprehensive and easily accessible education solution to all students – in the language and manner that they best understand.” “Eighty-five percent of our users are from outside the top 10 metro cities in India, strengthening our belief that we are really solving for Bharat. Sixty percent of these users have come online in the last 12 months. This gives us an indication that despite a massive growth is our user base, there is still a significant target audience that is yet to be tapped,” she added.
The company’s statement said it has over 13 Mn monthly active users and that it is extremely popular in low-income groups thanks to its multilingual approach and low-cost offerings. Doubtnut claims to offer 24×7 support to learners to help anytime studies.
Doubtnut said it has witnessed a 30x growth in its daily active users since March 2019. In June 2019, it launched a Whatsapp number which automatically responds to questions on chat. Doubtnut claims to have resolved over 250 million questions across maths, physics, chemistry and biology lessons.
“Tencent will add immense value to our journey,” said Aditya Shankar, Co-Founder, Doubtnut. “Their experience of working with Yuanfudao in China will help our team get fresh and valuable perspective on distribution first edtech models.”
In June 2019, Doubtnut launched a WhatsApp number to provide another query resolution channel for students. Till date, Doubtnut has resolved over 250 million questions across subjects like math, physics, chemistry, and biology.
Earlier this month, Indian edtech unicorn BYJU’s also raised a new round of funding from Tiger Global Management. Sources close to the fund raise told YourStory that the round is estimated to be around $200 million, and is raised at a valuation of around $8 billion.
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