GoStudent Raises $95 million to Enhance Newly Launched GoVR! 🚀🎓

GoStudent Raises $95 million to Enhance Newly Launched GoVR! 🚀🎓

EdTech Unicorn attains €3 billion valuation

23 August 2023

GoStudent has raised $686.3 million since 2016 and has now raised another $95 million in what it calls a strategic fundraise from Deutsche Bank. Other investors include Left Lane Capital, DN Capital, Tencent, Prosus, DST, Coatue and Softbank Vision Fund 2. The raise was described as a mix of equity and debt capital.

The announcement comes two months after the EdTech company announced the launch of GoVR, GoStudent’s newly launched virtual reality language learning platform:

“This immersive language learning platform, developed in partnership with Immerse and supported by Meta, is set to redefine language learning for a new generation”, said GoStudent CEO and co-founder Felix Ohswald in a recent statement.

 

The EdTech unicorn (which has attained an estimated €3 billion valuation) says the raise will be used to bring “enhanced hybrid learning solutions to the DACH region.” 

“GoVR encourages social interaction and collaboration, fostering a supportive environment for students to practice speaking with native-language tutors and their peers. This immersive approach not only enhances memory retention but also bolsters confidence, leading to students feeling less anxious and more empowered”, said Go Student in a recent press release

The company also stated it has an “AI vision” and plans to “prioritise the creation of AI-driven tools.” 

“We see daily the impact that tailored learning can have on a child’s confidence. By offering AI-driven study support or virtual reality lessons in group environments, alongside traditional tutoring, a truly bespoke learning path can be created for each individual child – readying them for their future”, Ohswald said.

Harley Miller, CEO and managing partner at Left Lane Capital, added: “As GoStudent doubles down on its existing VR capabilities, introduces smart AI tools, and drives synergies with Studienkreis, we see even further potential to complete its vision of hybrid offline and online tutoring.”

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