In November 2019, Lido Learning, a startup in technology in Education based in Mumbai, India secured $3 million funds from Series A. The funds come in a year since its inauguration. The current investors from Series B are Madhur Deora, Paytm group CEO, Picus Capital and Alex Samwer from Rocket Internet.
According to Picus Capital’s Florian Reichert, Lido Learning has created a robust, competitive and student-oriented product that will overtake Indian online education by storm. The platform is set to provide tremendous opportunities to the learners, as evidenced by the escalating growth of the platform following its launch in 2019. Lido learning, therefore, takes pride in being the sole EdTech platform in India.
Huge market in online tutelage
Madhur Deora, Paytm’s Chief Executive Officer reiterated that Lido learning has opened up a huge market in online tutelage with great momentum complete with a highly competitive management group. While projecting on Lido Learning’s future growth, the group Chief Executive officer said that the platform has aggressively disrupted the existing K-12 education market.
Lido Learning offers live tutorials with personalized attention for each student which is a far cry from the traditional setup of 55 students per classroom in India. Lido’s small group format apparently works as the student has an immediate support system.
Lido learning offers educational services
With the escalation of global pandemics such as Coronavirus, the platform becomes very essential in the provision of education to Indian students. Sahil remarked that Lido Learning is poised to be dominant in the online tutelage market in a few years in this decade.
Sahil Sheth, the platform’s founder, reportedly spent a month in China observing the tutoring market, after which he concluded that learning can be improved in the comfort of homes by tracking student performance and interactive media.
Lido learning started in 2019 and offers live teaching on set with customized learning sessions to meet every learner starting from class 5 to class nine. The platform covers sciences and mathematics from ICSE and CBSE boards. Coupled with online interactive sessions, the online stage engages students through assessments and games via its Google Play Store app.
Online education content escalates by 60 percent
According to references from Google and KPMG reports, education content for both primary students and secondary school students has escalated by a margin of 60 percent, a statistic that has been enabled by the fast proliferation of the internet throughout India.
The platform boasts of a 1:6 teacher to student ratio with more focus on technology and customized students’ content. Lido Learning is growing from initial metros to tier 2 and tier 3 Indian cities.
Similar successes in online education seem based primarily on community support and funding by like-minded investors. We can expect more of these education startups to crop up but as always, stakeholders should be very meticulous in choosing which ones to back up with hard-earned cash.