If the brand new spherical of funding goes via, the corporate shall be valued at $100 million, stated the particular person.
Temasek declined to remark and stated, “As a matter of policy, Temasek does not comment on market speculation and rumours.”
Another particular person within the know additionally stated that Lido Learning was in “serious discussions” to boost $30 million from Temasek. While declining to touch upon the fundraise, a spokesperson for Lido Learning stated, “The company has seen a month-on-month growth of over 50% for the last 3 months.”
The firm, began in 2019 by Sahil Sheth, had final yr raised $7.5 million in a collection B funding spherical led by BAce Capital. In November 2019, it had raised $3 million from Indian entrepreneur Ronnie Screwvala and Ananth Narayanan, chief government of Medlife (which has now merged with Pharmeasy), amongst others. Other buyers embrace Unilazer Ventures and Picus capital.
Lido Learning presents reside on-line tuition lessons to kids from KG to Class 9 in maths, science, english, and coding. It caters to Indian and middle-eastern markets.