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The latest technology has come to their aid. Both ordinary people and large investors have understood the importance of EdTech, so in 2020-2021 we are seeing a real boom in high-tech startups. Fall 2021 is no exception! Here are the top EdTech companies that I recommend taking a closer look at.
1. JoyTunes
The Israeli startup JoyTunes is developing applications that help people learn to play musical instruments, primarily the piano. The startup has even attracted major investors such as Google, Qualcomm, and Hearst Ventures. At the moment, the company is valued at $1 billion, which makes it possible to call it the “Israeli unicorn”
Quarantine measures largely contributed to the growth of the application’s popularity: during the lockdown period, the company’s applications were downloaded by about 10 million users per week. Thanks to such popularity, Simply Piano (the flagship application of JoyTunes) was recognized as the best application on Google Play and was included in the “Editors’ Choice” list in the App Store.
Even though the quarantine is behind us, the company is not ready to rest. The funds allocated by investors for its development are being used by the company to create new products.
2. Kognity
Kognity, a Swedish startup, attracted over $20 million in investment. When all schools switched to distance learning, Kognity products helped them a lot. The platform allows schools to use interactive materials for teaching, mainly videos and 3D models. On Kognity, you can also create your own tasks and collect analytics on students in the class.
The startup had already attracted investments three times before the pandemic. The total amount of funds received was seven million dollars. Now the company has managed to receive $20 million from Alfvén & Didrikson (Scandinavia).
90% of teachers who used Kognity report that since the platform was introduced, students’ performance has improved markedly. In addition, Kognity allows teachers to spend less time on routine tasks and thus, saves teachers at least three hours a week. Kognity is used in 70 countries around the world, but the platform’s managers believe that this is only the start.
Kognity plans to invest in development: to enter new markets and scale up the business that already exists in the United States.
3. Masterplan.com
German startup Masterplan.com specializes not in school, but corporate training. Users quickly master educational materials thanks to gamification: students are offered to take interactive quizzes and receive awards for their success. The platform can be integrated into an existing corporate system or create individual educational programs for students.
A total of $22.5 million was invested in Masterplan.com The funds came from the following investors: RAG Foundation, DvH Ventures, Tengelmann Group, and Social Ventures.
The platform plans to invest in the development of new services and business scaling. Volkswagen, Siemens, Otto Group, and Beiersdorf are Already among the clients of Masterplan.com. The founder of the project states that Masterplan.com’s revenue tripled in 2020. The platform is actively developing applications for Android and iOS so that users can choose a convenient time and place to study.
4. Almentor
The Almentor educational platform is geared towards native Arabic speakers. The platform offers courses in video format in medicine, sports, business, corporate communication, humanities, and digital media.
Almentor managed to attract $6.5 million. The platform received the most funding from Partech Partners. Egypt Ventures, Sango Capital and Sawari Ventures also invested in the startup. Since its inception, the platform has attracted $14.5 million in investments.
There are just a few courses in Arabic at present, although there are more than 400 million native speakers worldwide. It is for these clients that Almentor works. The company plans to spend the attracted investments, among other things, on promoting its products in Arabic-speaking countries. The major portion of money Almentor will spend on content: improving the quality and quantity of courses on the platform.
5. HyperionDev
HyperionDev is designed to train IT specialists. The project originated in a community of South African and British students who wanted to help fellow students achieve great success in programming. Now, on their educational platform, you can get practical skills in IT development in just a few months.
The company has attracted over $3.5 million from public investors and private individuals. 1,500 people from 20 countries invested their money in the project, including donations. A distinctive feature of the platform is that it focuses on the development of students’ practical skills that they will be able to apply in their future work.
The startup has been unprofitable for a long time, but recently began to generate profit: over the past two years, it has grown by 600%! Now the platform is used by more than 150 thousand people. Facebook and Google are planning to partner with the platform, opening training camps with it. The educational platform also plans to expand its presence in the international arena: in the United States, Great Britain, and other countries.
Quarantine measures gave a boost to the development of EdTech, but interest in high technologies in education has been traced for a long time. Now that interest in EdTech is particularly high, we can see trends that will shape EdTech in the future. Certainly, these trends include the gamification of education, the introduction of virtual and augmented reality technologies, as well as the use of machine learning to personalize the educational process. Take these trends into account — and soon your startup will also get to someone’s top!
