GoStudent, a Vienna, Austria-based edtech company, raised a $95 million funding round – a mix of equity and debt capital.
The investment was from Deutsche Bank and other investors, including Left Lane Capital, DN Capital, Tencent, Prosus, DST, Coatue, and Softbank Vision Fund 2.
The newly raised funds will be used to expand its hybrid learning solutions in the DACH region (Germany, Austria, and Switzerland). This involves providing a combination of online and offline educational support.
Additionally, the company plans to further develop its recently launched virtual reality language learning platform, known as GoVR.
GoStudent's strategic direction also encompasses an "AI vision," with plans to focus on creating AI-driven tools.
The platform currently hosts around 23,000 tutors and intends to develop an AI lesson plan generator that is aligned with the local curriculum. The aim is to enable tutors to save an average of 15 minutes per lesson through the use of AI-generated lesson plans.
In a statement, GoStudent CEO and co-founder Felix Ohswald said: “We see daily the impact that tailored learning can have on a child’s confidence. By offering AI-driven study support or virtual reality lessons in group environments, alongside traditional tutoring, a truly bespoke learning path can be created for each individual child – readying them for their future.”
Company: GoStudent GmbH
Raised: $95.0M
Round: Unknown
Funding Month: August 2023
Lead Investors:
Additional Investors: Deutsche Bank, Left Lane Capital, DN Capital, Tencent, Prosus, DST, Coatue, and Softbank Vision Fund 2
Company Website: https://www.gostudent.org/
Software Category: Learning Solutions
About the Company: Founded in 2016 by Felix Ohswald and Gregor Müller, GoStudent is an Austrian tutoring marketplace for students aged 6-19. GoStudent’s digital platform connects students to teachers in a virtual learning environment. Via its platform, GoStudent provides paid, one-to-one, video-based tuition to primary, secondary, and college-aged students.
Source: https://techcrunch.com/2023/08/03/gostudent-adds-another-95m-to-its-war-chest-to-go-after-vr-and-ai-enhanced-tutoring/