Edtech startup Lido Learning seeks $30 million funding from Temasek

New Delhi: Edtech startup Lido Learning is in talks to raise $30million in funding from Singapore-based investment fund Temasek Holdings Pte Ltd., said a senior executive, requesting anonymity.

If the new round of funding goes through, the company will be valued at $100 million, said the person.
 

Temasek declined to comment and said, "As a matter of policy, Temasek does not comment on market speculation and rumours."

Another person in the know also said that Lido Learning was in "serious discussions" to raise $30 million from Temasek. While declining to comment on the fundraise, a spokesperson for Lido Learning said, "The company has seen a month-on-month growth of over 50% for the last 3 months."

The company, started in 2019 by Sahil Sheth, had last year raised $7.5 million in a series B funding round led by BAce Capital. In November 2019, it had raised $3 million from Indian entrepreneur Ronnie Screwvala and Ananth Narayanan, chief executive of Medlife (which has now merged with Pharmeasy), among others. Other investors include Unilazer Ventures and Picus capital.

Lido Learning offers live online tuition classes to children from KG to Class 9 in maths, science, english, and coding. It caters to Indian and middle-eastern markets.
 

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