AI-powered EdTech firm secures £20m
Exeter-based tech company Sparx has secured a £20m investment for its AI-powered education platform.
The firm, founded in 2010, is an in-class and homework solution which uses machine learning tech, personalised content and analytics to help teachers.
The latest investment, from Oxygen House, is in addition to an earlier £30m investment designed to help the firm establish and develop a trial of its technology.
Sparx Maths, its first product launched last year, is designed for 11 to 16 year old students. It combines 32,000 maths questions and an adaptive AI tech platform.
The firm said it is planning to rapidly increase the scale of its operations in the next five years.
Dan Sandhu, CEO of 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 UK.”
Roy Bedlow, Director, Oxygen House added: “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 Sparx demonstrates this, and we are excited to see how this innovative, socially focused company, can transform learners’ lives across the world.”