Edtech Startup ‘Doubtnut’ Raises $25 Million In Series B Funding Round
Doubtnut, an edtech startup, has raised $25 million (Rs 183.3 crore) in its Series B round from SIG Global, Sequoia Capital, WaterBridge Ventures and ON Mauritius.
The edtech startup has allotted 8,097 series B preference shares at an issue price of Rs 226,345 per share to raise Rs 183.3 crore.
First reported by entrackr, SIG Global has invested Rs 111.7 crore. Sequoia, ON Mauritius and WaterBridge, have pumped in 37.25 crore, Rs 26.8 crore and Rs 7.5 crore respectively.
Started by Tanushree Nagori and Aditya Shankar in 2016, Doubtnut is an Indian interactive online tutoring app to find instant video solutions to all your math doubts, physics doubts, chemistry doubts, biology doubts.
Doubtnut uses AI and ML technologies for image recognition, natural language processing and proprietary machine learning algorithms to provide video-based solutions in response to students’ queries.
The fresh funding takes the total investment in the Gurugram-based startup to $44 million to date.
Last year, Doubtnut was in an advanced stage of talks for acquisition by edtech Unicorn Byju’s, but the talks failed due to differences in valuation.
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