The EdTech sector is receiving funding. In 2016 we have detected more than 80 funding rounds in the sector. Among them, $150M Age of Learning stands out for its size. In Spain, the round closed by Aba English is the largest round closed in the technology sector this year.
Aba English closes $10.5M round
Aba English is a Spanish app whose mission is to help people learn English from short films. The company, with 8M students and headquartered in Barcelona, has closed a €10.5M round, making it the Spanish technology company that has closed the largest round of funding so far this year.
The round, which was led by the British fund Kennet PartnersSpanish fund Nauta Capital and entrepreneur Iñaki Ecenarro also participated. This transaction is one of its first operations after the sale of Trovit 80M, two years ago.
Aba English, had already closed a €2.5M round in 2014, which was led by Nauta Capital.
Just a month ago, Aba English signed a collaboration agreement with Cambridge English Language Assessment, the English language assessment department of the University of Cambridge, to offer the Business Language Testing Service (BULATS) English exams and certifications, making it the first fully digital academy that is an authorised centre to issue official Cambridge English certifications.
Tech giants join the "EdTech" sector
The edutech sector is growing strongly, by 2022 the total turnover in the sector is expected to be around $243.8B.
The big tech startups do not want to be left out of the sector. Already last year we learned that Linkedin Linda, video tutorial platform, was purchased for $1500M.
In mid-March, news broke that Amazon would launch a free platform for educational materials during 2016.
Apple, whose history has always been closely linked to training, has developed an application that facilitates the management of training centres: Apple Classrooms, and at the beginning of the year it bought the startup LearnStroutlinked to academic bigData.
Transactions in the EdTech sector in 2016
So far this year, we have detected more than 80 operations in the EdTech sector. Among them, there are Spanish companies such as Lingbe, which have received funding.
Lingbe is an app to talk for free with native speakers on your mobile phone to practice languages. This company was created in Madrid in 2015 and has already received a €1500,000 round.
Among the largest rounds in the last quarter was Age of Learning, which received a $150M round in May. This American company offers online learning for children aged 2 to 7.
The USA is the leading country in the EdTech sector; of the 6 largest rounds that have taken place this year, all the companies are American. The second country in which we have detected the most rounds, curiously, is India, with companies such as Flex Class, which offers online economics courses. This company received $2.5M in January 2016.
Other posts that may interest you
E-learning gets funding: Dada Company, Busuu, Udance, Didactica Digital
If you are looking for financing, contact us, Abra-Invest has an expert team in alternative financing at your disposal. Call us on + 34 946424142 or fill in the contact form.