Today: Jul 20, 2024

K-12 Dealmaking: AI Startup Secures $14.6M, Early Education Program Sold

7 months ago



TLDR:

  • California-based startup Kyron Learning raised $14.6 million in Series A funding
  • Private equity firm Avathon Capital sold Big Blue Marble Academy to Leeds Equity Partners
  • Rise In acquired BlockBeam, a web3-focused ed-tech company
  • Vivek Sinha, former COO of Unacademy, raised $11 million for a new ed-tech venture

The California-based startup Kyron Learning has raised $14.6 million in Series A funding to build out its platform business and develop generative AI capabilities. The funding round was led by Global Silicon Valley Ventures and also included participation from Owl Ventures, ECMC Group Education Impact Fund, Common Sense Growth Fund, Charter School Growth Fund, Cambiar Education, LearnerStudio, Imagine Learning, and Array Education. Kyron Learning aims to provide learners with equitable access to quality instructors through AI-powered tutoring using on-demand videos. In addition to the funding, the startup has received an $850,000 grant from the Bill & Melinda Gates Foundation to build its K-12 math curriculum and study the efficacy of interactive videos in learning environments.

Avathon Capital, a Chicago-based private equity firm, has sold Big Blue Marble Academy to Leeds Equity Partners. Big Blue Marble Academy is an early childhood education provider that offers programs for children from infancy to age four. Terms of the deal were not disclosed. Avathon initially invested in Big Blue Marble Academy in 2018, and under its ownership, the academy expanded to 67 schools across eight states.

Rise In, an ed-tech company focused on web3 technologies, has acquired BlockBeam, a web3-focused ed-tech company that trains college students. The acquisition will enable Rise In to add around 1,000 web3 developers from the US to its team. Rise In provides free web3 education through its e-learning and bootcamp management platform. It plans to launch an internship program for college students in the future.

Vivek Sinha, who previously served as the Chief Operating Officer for Indian ed-tech platform Unacademy, has raised $11 million for a new ed-tech venture called Beyond Odds. The funding round included participation from investors such as Lightspeed Venture Partners, Matrix Partners, and angel investors. Beyond Odds will focus on upskilling in the healthcare industry.