Bengaluru: Edtech startup Doubtnut has raised $15 million in a Series A funding round led by Chinese investor Tencent. Existing investors Omidyar Network India, AET, Japan and Cure.Fit co-founder Ankit Nagori, along with Sequoia Capital India participated in this round, the company said on Friday.
Doubtnut had raised its Pre-Series A in March last year, in a round led by Surge, Sequoia Capital India’s scale-up program, Waterbridge Ventures, Omidyar Network India and AET, Japan.
The company will use the funds to widen its pan-India distribution, build on its content repository, invest in strengthening its technology stack and scaling its team, the statement added.
The app allows students from sixth grade to high-school solve and understand math and science problems in local languages. Doubtnut app allows them to take a picture of the problem, and uses machine learning and image recognition to deliver their answers through short-videos.
Doubtnut said it has amassed over 13 million monthly active users across its website, app, YouTube, and WhatsApp . More than 85% of Doubtnut users today come from outside of the top 10 cities in India, said Tanushree Nagori, co-founder of Doubtnut. She said that more than half of these students have come online in the last one year.
“Doubtnut is truly democratizing education across India. Our user base reflects the entire demography of India, something which no other education app in the country has come close to achieving,” she said.
IIT-Delhi alumni Tanushree Nagori and Aditya Shankar launched Doubtnut in October, 2017. Catering to K12, IIT JEE and NEET students at present, Doubtnut is a multi-lingual online learning platform that uses artificial intelligence (AI) and machine learning (ML) technologies for image recognition, natural language processing and proprietary machine learning algorithms to provide video-based solutions in response to students’ queries. The platform has over 13 million monthly active users across web, app, Youtube and WhatsApp.
Doubtnut co-founder Nagori said in a statement, “Doubtnut is truly democratizing education across India with its student focused approach. Our user base reflects the entire demography of India, something which no other education app in the country has come close to achieving. 85% of our users are from outside the top 10 metro cities in India, strengthening our belief that we are really solving for Bharat. 60% 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."