MagniLearn uses AI to help students learn new languages, raises $2.8M
There's nothing easy about learning a language, and so it's also maybe no surprise that there are plenty of startups that want to make life easier for students. But while some mostly focus on individual learners and bypass the school systems, others are trying to make inroads in schools, too. One of the latest entrants to this market is MagniLearn, an AI-centric startup that provides students with individualized lessons based on their progress.
As the Israel-based startup announced today, it has now raised a $2.8 million seed funding round led by crowdfunding platform OurCrowd's incubator Labs/02 and India's Reliance Industries, in addition to the Israeli Innovation Authority and a number of private investors.
"With our precise personalization -- which allows pupils to thrive and reach their full potential -- lessons for two students will never be identical," Lana Tockus, MagniLearn’s CEO and co-founder, explained. "The lessons evolve as students progress, with our AI algorithms dynamically creating exercises in real time. The exercises are at exactly the right level to appropriately challenge each student and to best utilize their time. The algorithms understand each part of the learner's answer and provide the learner with precise feedback in their own native language.”
Image Credits: MagniLearn
The service currently has users in Japan, Korea and Israel, but Tockus notes that she plans to use the new funding to expand its presence in the Asia-Pacific region. Currently, MagniLearn's product focuses on teaching English.
The pandemic, the company argues, has put a lot of stress on school systems. But Tockus also notes that MagniLearn doesn't strive to replace language teachers. "We want nothing less than to empower educators and students via personalized data-driven insights in order to maximize learning efficiency," she says. "This will open up opportunities for students the world over who need English in order to join the global economy, double their income and secure a better future for themselves and their families.”
