2024 State of Edtech Funding & the EU AI Act
👋 Hi and welcome to Brighteye Weekly - your weekly take on all things Edtech, Startups and Venture Capital.
Articles and Resources of the week
In Transcend’s latest newsletter, they cover the state of fundraising in Edtech, as seen by 20+ Edtech investors. As a headline, last year was tough, however the report dives into the key themes observed over the year, and on a more positive note, it also highlights the themes that investors are most enthusiastic about in the coming year.
Ego-Exo4D has the capability to both capture first-person views from a participant’s wearable camera, as well as the view from cameras surrounding the participant, together these give AI models a new window into complex human skill. This has the potential to facilitate many applications, for example, a person wearing smart glasses could quickly pick up new skills with a virtual AI coach that guides them in a how-to video.
The EU has released new regulations for AI. As part of this, AI systems which fall into 8 specific areas will have to be registered in an EU database, with ‘Education and vocational training’ being one of the 8 categories. This means that systems are required to be assessed before being put on the market and throughout their lifecycle. Not everyone is so happy with these new regulations, with fears that this could hamper the progress of startups in the global AI race.
Investment news
Berlin based Montamo has closed a €2.1 million pre-seed funding round led by Project A Ventures.
Blend has raised £350k in pre-seed funding from Antler, with participation from Ada Ventures and NoBa.
Lisbon-based VirtuLeap has raised $2.5 million, with GED Ventures Portugal leading the round.
Swiss Rflect has closed a CHF 550,000 pre-seed round with participation from business angels.
Jobs in Edtech
Brighteye is hiring an Investor Relations Manager (Luxembourg/Paris).
The Power Business School is hiring a Marketing Assistant (Madrid).
Sdui is hiring a Customer Success Manager (Koblenz/Hybrid).
Bots & People is looking for a Project Manager (Berlin).
Thank you for reading. If you enjoyed it, share it with your friends, colleagues and everyone interested in the European Edtech ecosystem.
Stay curious,
Izzy