After successful seed-financing by M-Investar, K5 and hub:raum, the incubator of Deutsche Telekom, mobile learning startup qLearning has secured further capital for growth through the new investors Senovo GmbH from Munich and the IBB Beteiligungsgesellschaft mbH from the VC fund Technologie Berlin.
The founders of qLearning want to use the fresh capital with their team of 9 people to speed up the internationalization process and further development of the product itself. The aim is to offer mobile learning to students of all subjects and move more into the focus of traditional learning methods.
By adding the two new investors, the startup adds two strong partners with experience in technology and secures a low seven digit investment for further growth.
Frederick Mallinckrodt, Managing Director of Senovo GmbH, said: ”qLearning has an interesting business model which is unique to the market this far. The way the product supports students revising for their exams while at the same time connecting them with potential employers has fascinated us. The challenge now is to leverage this first mover advantage and rapidly connect more and more universities, subjects and ultimately students to the app.”
Clemens Kabel, authorized officer of the IBB Beteiligungsgesellschaft mbH said: “As a Berlin-based VC it is our focus to finance technology companies with international growth potential. This potential is exactly what we see in qLearning. Both revenue and product development in the past months match what we perceive as a promising business model. qLearning especially convinced us with their young, but also structured and hugely ambitious team.”