Doubtnut Secures $31 Million in Series B Funding

Doubtnut, an India-based startup focused on enhancing student learning in mathematics and science through concise video lessons, has successfully secured $31 million in a new funding round.

This investment arrives after the company previously declined an acquisition proposal from Byju’s, India’s leading edtech corporation.

Funding Details and Investors

SIG and Lupa Systems, led by James Murdoch, spearheaded the $31 million Series B funding initiative.

Existing investors, including Sequoia Capital India, Omidyar Network India, and Waterbridge Ventures, also contributed to this round.

To date, the startup’s total funding amounts to approximately $50 million.

How the Doubtnut App Works

The Doubtnut application enables students to photograph a problem, leveraging machine learning and image recognition to provide solutions via short, instructional videos.

These videos deliver step-by-step guidance for problem-solving.

User Engagement and Growth

The app currently supports multiple languages and boasts over 2.5 million daily active users.

These users collectively spend 600 million minutes monthly on the platform.

Notably, over half of the user base has joined the platform within the past year.

Content Library and Accessibility

Doubtnut has curated a comprehensive library of more than 65 million questions, spanning nine languages, designed for students from sixth grade through high school.

The platform distinguishes itself by reaching students in smaller Indian towns and cities.

Approximately 85% of its user base resides outside the top 15 Indian cities, and 60% attend schools where the primary language of instruction is a local vernacular.

Previous Acquisition Attempts

Reports from TechCrunch last year indicated that Byju’s had explored acquiring Doubtnut for a potential sum of up to $150 million.

However, Byju’s subsequently reduced its offer, leading to the termination of negotiations.

Lupa Systems' Expansion in India

James Murdoch recently announced a renewed partnership with Uday Shankar, a former colleague instrumental in developing the Murdoch family’s Star business in India, which was later acquired by Disney.

Shankar will collaborate with Murdoch to bolster Lupa’s operations within India.

Lupa Systems has already invested in nearly a dozen startups, including the Indian news aggregator and social app, DailyHunt.

Vision and Future Plans

“Doubtnut was founded with the goal of improving educational outcomes for all students, particularly those in areas beyond major Indian cities,” stated Tanushree Nagori, co-founder and CEO of Doubtnut.

“We specialize in creating content in regional languages and utilizing technology to offer affordable solutions to this significant demographic.”

Nagori further expressed enthusiasm about welcoming SIG and Lupa as investors, highlighting SIG’s expertise in edtech and Lupa Systems’ proven track record in building successful businesses.

The newly acquired capital will be used to expand language support and broaden the range of subjects offered.

Doubtnut also intends to introduce paid course options in the future.