EdTech platform Doubtnut, has raised an investment of Rs. 224 crores from SIG and Lupa Systems in a Series B funding round. As per the company, existing investors Sequoia Capital India, Omidyar Network India and Waterbridge Ventures also participated in the round.
The funds raised will be used to expand the product into more languages and curriculum subjects and to launch new paid courses.
Founded in 2017 by Tanushree Nagori and Aditya Shankar, Doubnut is a multi-lingual doubt-solving platform that uses artificial intelligence and machine learning for image recognition, natural language processing and proprietary algorithms to provide video-based solutions.
The app offers solutions to more than 65 million questions monthly in 9 languages for students of CBSE and 15 state boards.
“Doubtnut has been built with a vision to improve learning outcomes for all students, especially those outside the major Indian cities. We specialize in developing content in vernacular languages and use technology to create affordable solutions for people in this large target segment,” said Tanushree Nagori, Co-Founder and CEO, Doubtnut.
In October last, Doubtnut had raised capital from venture debt firm InnoVen Capital.