Kognity raises €4.6m to ‘radically’ improve student learning
Education tech startup Kognity has secured €4.6 million (approximately US$5 million) in funding to “radically” improve student learning experiences worldwide.
Founded in 2014, the edtech startup provides high-quality, progressive resources — including e-books, online quizzes, webinars, and videos — for students to master their educational materials.
In addition to serving students, Kognity aims to empower teachers by streamlining their workloads and helping them support their students’ learning journeys.
Kognity offers resources to help students navigate High School Science, Cambridge IGCSE, and the IB Diploma Programme. Kognity claims to be the “first ever digital-only publishing partner” of the Geneva-based international education organisation IB. As of now, Kognity has served over 140,000 students in 1,300 schools in numerous countries.
The recent funding is expected to boost the growth of its US high school science business. The startup also plans to expand its product offerings for global customers.
Mars Growth Capital (MGC), a joint venture fund between Liquidity Group and MUFG, was the main investor in the latest fundraising. The investment in Kognity marks MGC’s first deal in the Nordic region.
“As experienced EdTech funders, we were attracted to Kognity’s impressive product and ability to scale this globally.”
Paul Brodie, Head of Investments, Europe at Liquidity Group
Liquidity’s Paul Brodie said MGC was “attracted” to Kognity’s product offerings and ability to scale up the business. Brodie noted that his company’s underwriting tech had enabled quick identification of Kognity’s funding needs.
Kognity CFO Niklas Åkesson also appreciated the investor’s AI-driven analytics tool for designing a funding model that suits the startup’s growth plan.
MGC to fund other Nordic ventures
MGC co-CEO Ron Daniel said the MGC would be involved in numerous funding deals over the next year.
“We are committed to the inventive and creative founders in the tech space and expect to commit up to a further $500m in the next year in the Nordics,” he said.
“We remain excited to fund the best companies globally, many of which are in this region.”
MGC investment manager Kosuke Nekoshima described the Nordic region as an “exciting area” with plenty of active startups.
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