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Riku Tanaka
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Finance
February 3 15:54

Young educational technology startup Doubtnut raises $15 million in India

Doubtnut, a Gurgaon-based edtech startup, which operates an app to help students learn and understand math and science concepts with the help of short videos, has raised US$15 million a recent financing round as it aims to extend its reach to the nation’s small urban communities and towns.
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Doubtnut, a Gurgaon-based edtech startup has raised US$15 million a recent financing round as it aims to extend its userbase to the nation’s small urban communities and towns. The two-year-old  firm runs a mobile app that helps undergrads learn and understand mathematic and scientific concepts with the help of short videos. 
 
The Series A financing round was led by Chinese tech behemoth Tencent. Existing investors such as Omidyar Network India, AET, Japan and Ankit Nagori (founder of wellness startup Cure.Fit), and Sequoia Capital India also participated in the round, according startup.
Doubtnut, which is a part of Sequoia Capital India's Surge accelerator program, has raised US$18.5 million to date, and the fresh financing round raised the value to roughly US$50 million, as an individual acquainted with the issue stated.
The company’s mobile application facilitates the understanding mathematics and science for pupils in grade six and up by showing easy to understand videos that are available in local dialects. What makes the Doubtnut application unique is the function that the users to snap a photo of an issue that they don’t understand, and uses AI and image recognition to convey answers through short-form videos. 
The image of the problem is sent by the student through WhatsApp, the Doubnut app or the official site, which is then recognized by the software, analyzed and gives the student back an answer as well as a short video that guides the student through the process of solving the problem.
Doubtnut claims over 13 million active users on a monthly basis over its site, the application, YouTube, and WhatsApp inquiries. Over three quarters of Doubtnut’s userbase has originated from outside the ten most populated cities in India, according to  Tanushree Nagori, co-founder of the edutech firm. She also noted that the greater part of these users have come online over the course of just one year.
“Doubtnut is truly democratizing education across India. Our user base reflects the entire demography of India, something which no other education app in the country has come close to achieving,” she said.
The rapid development of Doubtnut speaks to the recent flood of new businesses in India that are focused handling local challenges. In edutech alone, various players including Byju's (currently estimated to be valued at US$8 billion), Unacademy, Vedanutu, and GradeUp have also shown amazing development.
Gaurav Munjal, founder and CEO of Unacademy, said on Saturday that his startup's one-year-old premium offering had reported US$30 million in revenue.