The Estonia-based startup Lingvist, whose mission is to develop and scale learning technology that enables radical improvement in learning efficiency, has raised €5.1 million in the latest round of funding for its language learning app.
In this new round, Lingvist is backed by a group of prominent investors led by Rubio Impact Ventures, a leading impact venture fund based in the Netherlands with €150 million AUM. Rubio invests in world-changing entrepreneurs who unite powerful positive impact with a scalable commercial business, the future-proof approach to successful business.
Other investors include Rockaway Capital, through a new venture capital fund – the Rockaway Ventures Fund – which will focus primarily on start-ups in Central and Eastern Europe that are digitalizing traditional industries while following ESG (Environmental, Social, Governance) principles.
Metaplanet Holdings, a venture capital firm based in Tallinn, Estonia, and chaired by Skype’s co-founder, Jaan Tallinn, has also participated in the round.
Lingvist is an EdTech startup working to make language learning faster and more efficient using big data and AI. It has developed an award-winning algorithm that enables the application to swiftly customize and adapt course content to each user, and was co-founded in 2013 by CERN alumnus and nuclear physicist Mait Müntel, who was recently granted an award by the CERN Alumni Network.
“This funding enables Lingvist to hire a separate scientific research team to experiment with radical ideas and bring them into production. It also allows Lingvist to scale its language learning application to many more languages and bring it to users in more markets,” said Lingvist Co-founder and CEO Mait Müntel.