New Delhi: edtech start up Lido Learning On Friday, it said that it has raised $ 10 million (about Rs 73.4 crore) from Ronnie Screwvala‘s Uniledger Ventures. The company has raised $20 million so far from prominent investors such as BACE Ventures, Pickus Capital, 9Unicorns, Paytm founder Vijay Shekhar Sharma, Mukesh Bansal, Anupam Mittal, Ananth Narayanan and others.

Lido Learning said in a statement that it is currently on track to reach a run rate of $100 million by the end of the fiscal year.

Established in 2019, Lido Learning offers classes in Maths, Science, Coding and English for students from KG to Class 12.

The company plans to use the fresh round of capital to fuel its aggressive expansion plans in India as well as abroad.

“There are plans to launch in the UK, Australia, New Zealand and Southeast Asia in early 2022, in addition to our existing Middle-Eastern, US and Canadian operations,” the statement said.

“Lido is the first in the country to recognize the power of learning in small groups, while being enabled by technology, for rapid learning and success. We are going to use this new round of capital to ensure that our classes are accessible to students from every corner of India as well as the world,” Lido Learning Founder and chief executive Sahil Sheth said.

He added that the company is going to “redouble our efforts to connect students with India’s exceptionally well qualified and dedicated teaching talent”.

Earlier this week, Lido Learning announced its entry into the US and Canada with its flagship coding program.

Ronnie Screwvala, Founder of Uniledger Ventures, said, “Lido is a first mover in the small group, online tutoring space. The company has differentiated itself from all other players from the outset by providing primarily self-guided learning or large group classes. ” said.

Lido’s strategy of rewarding immersive learning and positive learning outcomes has ensured that it is best positioned to consolidate the $15 billion neighborhood tuition market, he added.

The edtech space has seen strong growth globally, including in India, with the COVID-19 pandemic acting as an inflection point. Several offline classes went online to ensure continuity of education while adhering to social distancing norms.

Lido Learning’s first TV ad campaign will go live during the IPL season, along with the launch of its free user app to give students access to free curriculum-aligned video content for life.