German edtech startup StudySmarter doubles its Series A investment, raises €13.7M from Goodwater Capital
StudySmarter was founded in 2018 by Christian Felgenhauer, Maurice Khudhir, Till Söhlemann, and Simon Hohentanner. It converts any text or content into an interactive lesson using Natural Language Processing (NLP). It assists students, experts, and content publishers in the creation of lecture notes, summaries, flashcards, exercises, and other types of information. The company just announced that it has raised an additional $16 million (about €13.78 million) in its Series A round from Goodwater Capital. In May of this year, StudySmarter secured $15 million in a Series A investment. The firm intends to use the additional funds to accelerate its worldwide expansion and achieve its goal of becoming the best and largest content-agnostic learning platform in the world. As a result, e-learning has become the new normal, and investors are beginning to see the industry’s potential. StudySmarter, based in Munich, is one such edtech business that is capitalising on the trend.