Doubtnut raises Rs 224 crore led by SIG, Lupa Systems

Doubtnut claims 85 per cent of its current user base comes from outside the top 15 Indian cities and 60 per cent from the state boards, where the typical medium of instruction is the local vernacular language.The funds raised will be used to expand the product into more languages and curriculum subjects and to launch new paid courses, the statement said.

Education technology firm Doubtnut on Thursday said it has raised an amount of Rs 224 crore from SIG and Lupa Systems. Existing investors Sequoia Capital India, Omidyar Network India and Waterbridge Ventures also participated in the series B funding round. ''We are pleased to welcome onboard SIG and Lupa; SIG brings in strong experience of investing in ed-tech companies globally and Lupa Systems brings unparalleled experience of building world-class businesses and harnessing high-impact technologies,'' Doubtnut co-founder and CEO Tanushree Nagori said in a statement.

Doubtnut app offers solutions to more than 65 million questions monthly in nine languages for students from CBSE and 15 state boards. Doubtnut claims 85 per cent of its current user base comes from outside the top 15 Indian cities and 60 per cent from the state boards, where the typical medium of instruction is the local vernacular language.

''The funds raised will be used to expand the product into more languages and curriculum subjects and to launch new paid courses,'' the statement said. Doubtnut had also raised capital from venture debt firm InnoVen Capital in October last year.