Why Edtech Startups That Improve Literacy Are Gaining Investor Interest

David James · October 17, 2021 · Short URL: https://vator.tv/n/5342

Literacy Is Attracting Large Investments In Edtech

The pandemic skyrocketed the rate at which technology has been integrated into our lives. Education is one example of many — children worldwide suddenly had to learn at home through virtual classrooms and using digital devices, paving the way for a host of new digital solutions and boosting those that existed already.

It shouldn’t be a surprise that investors have started to notice companies that offer these types of platforms, so here are a few focusing on literacy that have seen the most notable access.

Startups to watch

Last November, Hungarian startup BOOKR Kids received over €2 million in funding thanks to its revolutionary platform, which teaches children to develop a love of reading and improve their literacy using technology and a range of clever features.

The company has primarily focused on growing within Hungary up to now, but it’s established partners across the world and has its sights set on the US next. 

Recently BOOKR has started working with publishers, including Oxford University Press, to give learners access to the best quality information and stories while providing publishers with an extra income stream. This is no doubt something that has captured the attention of investors.

On the surface, Simbi offers a similar product to BOOKR Kids. Both companies have made software for students designed to improve literacy through technologically-enhanced reading experiences, and they even provide some similar features. Also, both platforms narrate stories to readers and use text highlights to help readers follow along, and both can be used by teachers inside the classroom (as well as proactive parents).

No wonder investors are paying attention. The startup has been around since 2017, and over that time, it’s raised $3.1 million across various funding rounds, with investors including Canadian Technology Accelerator Silicon Valley.

Why they’ve seen so much success

If it wasn’t clear already, these startups are innovators in their space. So, let’s take a closer look at exactly what their software offers — and how they’re changing the education game.

BOOKR uses animated content that portrays whatever a story is describing, highlighted text that learners can read to follow along, and educational games and quizzes to add an extra interaction element.

Students download the app to their digital devices, while educators use the Teacher’s Dashboard. It’s a two-in-one solution that gives teachers access to statistics about their learners and readymade resources and also provides students a way to easily study from home (or be more engaged in class). 

Learners can also take advantage of features like a special dyslexia font, explanations about books, or even reading in a second language.

Simbi also offers animated content, but its standout feature is encouraging learners to narrate the stories out loud as they read, increasing their focus, fluency, and confidence. 

Then, their voices are used to help other learners improve their literacy (often refugees), encouraging them to embrace the increasingly global world we live in. 

Invest in the next generation

When you invest in an edtech startup, you’re not just boosting your chances of making some money — you’re also putting your money toward a startup that’s fuelling positive change in the world. 

Whichever your greatest motivation is, edtech is an investment well worth considering in the current climate, and a focus on literacy skills isn’t a bad place to start.

Support VatorNews by Donating

Read more from our "Trends and news" series

More episodes