Lingvist, an Estonia-based EdTech startup whose mission is to develop and scale learning technology that enables radical improvement in learning efficiency, has raised €5.1 million in new funding round to scale its language learning application to more languages and bring it to more users.
The round was backed by a group of prominent investors led by Netherland-based Rubio Impact Ventures, a venture capital firm that focuses on enterprises that have a positive impact on society and the planet. Other investors like Rockaway Capital’s new venture capital fund – the Rockaway Ventures Fund – and Metaplanet Holdings, a venture capital firm based in Tallinn, Estonia, also participated in the round.
Lingvist is an EdTech startup working to make language learning faster and more efficient using big data and AI. Founded in 2013 by CERN alumnus and nuclear physicist Mait Müntel, the startup has developed an award-winning algorithm that enables the application to swiftly customize and adapt course content to each user. Lingvist maps the knowledge and skills of each learner, adapting learning materials in real-time and creating an experience that is pleasantly and uniquely challenging for every individual learner.
Lingvist has claimed that with its scientific approach and advanced technology, users can learn any major international language up to 10x faster. The company’s best users learn 30 words per day and 4000-word families in 4 months, which Lingvist claimed takes an average of 4 years in language schools. Lingvist’s users can learn British English, American English, French, Russian, German, Spanish, and Portuguese among others.
Commenting on how the funding will help the company, Mait Müntel, Co-founder and CEO of Lingvist, said,
"This funding enables Lingvist to hire a separate scientific research team to experiment with radical ideas and bring them into production. It also allows Lingvist to scale its language learning application to many more languages and bring it to users in more markets."
Lingvist uses neural networks to assess learners’ existing vocabulary quickly and accurately so they can learn at their level. Learners can take full control of the words they learn, turn any text or words into a unique language learning course of their own. As per its website, Lingvist has witnessed 6 million app downloads, with 8.25 million words learned monthly from over 100 nationalities.
Lingvist was selected as one of the top 50 EdTech companies in the Nordic-Baltic eight region by HolonIQ in 2020.