An Exeter-based learning technology company has secured further investment totalling £50million which is thought to be the largest by a 海角视频 investor into the 海角视频’s dynamic edtech sector.
Sparx, a socially focused learning technology company, is to receive a £20million investment from Oxygen House - an ethical and impact-centric group of companies also based in Exeter.
Sparx was founded in 2010 and is an in-class and homework solution which uses machine learning, personalised content and data analytics to allow teachers to focus on effective teaching rather than time-consuming administration.
The investment follows an initial £30 million investment from Oxygen House which helped to establish Sparx and to develop and trial the technology.
Its first product, ‘Sparx Maths’, was launched in September 2018 and combines high-quality content, including 32,000 carefully designed maths questions, and an adaptive artificial intelligence (AI) technology platform. Research and feedback from schools shows that SparxMaths is helping to improve progress and attainment in maths.
The initial investment from Oxygen House has helped Sparx to work closely with schools to research, test and develop an approach to learning maths which is highly engaging.
Dan Sandhu, CEO for Sparx said:“Oxygen House is a dynamic group of companies and we are delighted to have their backing. From day one they have shown a strong belief in our vision for Sparx.
"This new investment will help us to firmly position Sparx at the forefront of edtech and build on the success we have already achieved with our partner schools. The ongoing support of Oxygen House will enable us to have a significant impact on education nationally and beyond the 海角视频.”
More Devon and Cornwall news
Most Read
By applying learning strategies founded in pedagogy with cutting-edge technological knowledge, Sparx is changing perceptions about teaching and learning in schools and at home.
Engaging directly with schools is key to that strategy. Exeter’s Ted Wragg Multi-Academy Trust is one such partner whose insight and collaboration during successful trials has helped inform Sparx’ development over the last eight years.
Roy Bedlow, director at Oxygen House said: “We are committed to helping to improve education so that young people gain the best outcomes and can have a positive impact on society throughout their lives. Our investment in Sparxdemonstrates this, and we are excited to see how this innovative, socially focused company, can transform learners’ lives across the world.”
Critical to this latest investment round is Sparx’ commitment to delivering real impact in education in the 海角视频 and globally, summed up in its mission to improve learning outcomes for more than 5 million learners by 2030 (#Ed5M). In the next five years Sparx is planning to rapidly increase the scale of its operations to support its international ambitions.