The Munich-based startup Studysmarter helps students learn even better with its platform. The startup has now successfully completed its seed financing round worth millions. In addition to existing investors, German VC Dieter von Holtzbrinck Ventures (DvH Ventures) is joining as lead investor.
Studysmarter is a Munich Edtech startup, which develops an intelligent and content-independent platform for lifelong learning. Students can upload their own learning materials to the platform, and the solution analyzes them using artificial intelligence to create content such as mind maps, summaries, learning plans, and quizzes.
The startup was founded in 2017 as a spin-off of the Technical University of Munich and the Ludwig Maximilian University of Munich. In 2018, it launched its learning platform, which, according to the company, has now reached more than 850,000 users. The Munich-based company has also entered into several exclusive partnerships, including with Pearson Publishing. Together with Stark Publishing, Studysmarter also offers currently offers its services to students free of chargeAt the end of 2018, Nikolaus Bayer, Philip Ginthoer, Sven Plundrich, 71Circles and Christian Dereser invested a mid-six-figure sum in the Edtech startup.
The Munich-based company intends to use the newly acquired funding to establish itself as the leading learning platform in the DACH region and significantly increase user growth. The additional resources will primarily be invested in the further technical development of the platform to provide users with even more personalized and intelligent support in the learning process. Furthermore, the company intends to address new target groups and markets.
The founders of Studysmarter, Christian Felgenhauer, Maurice Khudhir, Simon Hohentanner and Till Söhlemann, explain:
“We are very pleased to have found another partner in Dieter von Holtzbrinck Ventures who supports our vision in the long term and wants to jointly drive the future of digital education.”
“Best starting conditions for dynamic growth”
“With its conception as a content-independent technology platform, Studysmarter has the best starting conditions for dynamic international growth regardless of the target group,”
says Peter Richarz, Managing Partner of DvH Ventures. And further:
"Studysmarter has developed a product tailored to the needs of users in the attractive and growing e-learning market. This is reflected not only in the rapid user growth—around 850,000 users by May 2020—and the intensive use of the learning app. An increasing amount of individual data 'trains' the artificial intelligence and thus continuously improves the product."
