Generative AI's Act Two - The Moats are in the Customers, not the Data
👋 Hi and welcome to Brighteye Weekly - your weekly take on all things Edtech, Startups and Venture Capital.
Articles and Resources of the week
Sequoia Capital - Generative AI’s Act Two
A piece worth reading on the evolution of GenAI by Sequoia Capital. Generative AI is not lacking in use cases or customer demand. Users crave AI that makes their jobs easier and their work products better, which is why they have flocked to applications in record-setting droves (in spite of a lack of natural distribution). However, most tools are struggling heavily with retention and engagement. The one exception are companion bots where DAU/MAU ratio is between 30% and 40% which is decent. So, who us building a must-have learning companion?
Stanford Economist Eric Hanushek on COVID’s Trillion-Dollar Impact on Students
Experts have spent years trying to quantify the pandemic’s toll on a generation of K–12 students. Some have focused on the months of incomplete or nonexistent learning opportunities while instruction was being delivered remotely in 2020 and 2021. Others were most disturbed by the deferred development of social-emotional skills for the youngest students, or the damage dealt to the mental health of adolescents. All significant harms. But then there’s the bottom-line figure that appeared last winter: $28 trillion.
Edtech Competitions: Schmidt Futures and LearnTech Champion Award
Schmidt Futures recently announced a $5.5 million Edtech initiative. The Tools Competition is accepting abstracts from competitors worldwide for tools and technologies addressing pressing issues for learners of all ages (Deadline: November 10th). Additionally, the LearnTech Hub is awarding the LearnTech Champion Award at this years Heilbronn Slush’D. So, if your company is shaping the future of corporate learning and work you can apply to pitch at the event on October 19th and win a cash prize of €5,000.
Investment news
Berlin-based PowerUs has raised a €24 million series B. The round was led by Eurazeo with participation from existing investors General Catalyst, Headline and HV Capital.
London-based startup Morphoses successfully completed an oversubscribed €2.1 million pre-seed funding round. The round was led by Uni.Fund.
Gizmo, a generative AI learning startup that uses gamified quizzes to engage learners, raised $3.5 million in seed funding from NFX, Ada Ventures, and Capital T.
London-based StudentCrowd, a decision-making platform for higher education, secured €2.9M in funding led by PwC Raise Ventures.
La Taloche, a boot camp provider in the construction industry, raised €1.8 million from business angels to launch their trainings nationally throughout France.
Entelechy Academy, a UK-based startup providing Character-based professional development for employees, has raised €5.2 million through the Angel Investment Network.
Jobs in Edtech
Coachbetter is looking for a Marketing and Video Production Manager (remote).
Tandem is hiring a Junior and a Senior Product Manager (Berlin).
Odilo is looking for a Strategic Sales Manager (Malaga/Remote).
OpenClassrooms is hiring a Mentorship Manager (Paris).
Thank you for reading. If you enjoyed it, share it with your friends, colleagues and everyone interested in the European Edtech ecosystem.
Stay curious,
Hannes