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The launch of GoVR, the world‘s first virtual education platform for recreating group language learning experiences in the metaverse, was announced a few months ago. In GoStudent’s intentions, this $11.5 million platform allows students to effectively interact in the virtual environment with Meta Quest 2 headsets and represents the first step of a path that will lead to the implementation of new intelligence technologies functional artificial for online learning. An ambitious goal that led to the decision to raise liquidity by $95 million by combining equity and debt, with the participation of Deutsche Bank and investors such as Left Lane Capital, DN Capital, Tencent, Prosus, DST, Coatue and Softbank Vision Fund 2.
The capital increase will be used by the Viennese company – founded in 2016 and today present in 22 countries with more than 1,500 employees and 22 international offices – to implement advanced hybrid learning solutions in the DACH region, where, according to targeted research, it as 61% of parents seek a combination of online and offline educational support through access to packages tailored to individual students’ learning needs, including one-to-one online tutoring, offline group lessons, and lessons and sessions via GoVR. The goal for the immediate future is to increase the use of artificial intelligence in lesson planning and learning content on the platform using personalized curricula.
“This funding is a concrete sign of our willingness to develop this opportunity and that we are leading the future of education,” said GoStudent CEO and co-founder Felix Ohswald. “For us, the hybrid concept means ensuring the success of long-term learning that adapts to the needs of the individual. By offering AI-led study support or virtual reality lessons in group environments, alongside traditional tutoring, you can create a hybrid learning path that fits your students’ needs. In practice, if the preference is for offline tutoring, but the family is traveling for the summer, one-to-one online lessons can be booked to ensure that momentum is not lost. Or, if a child prefers to learn English together with other peers but needs one-to-one math support, we can make that possible,” concludes Ohswald.
“As one of GoStudent’s early investors, we supported the company’s vision and are thrilled to see the team continue to work in that direction,” said Harley Miller, CEO and Managing Partner of Left Lane Capital. “The team has refined its online tutoring offering, built a sustainable model and grown across Europe. GoStudent has doubled its current VR capabilities and, meanwhile, introduces cutting-edge AI tools and fosters synergy with Studienkreis, in which we see further potential to complement its vision of hybrid offline and online tutoring. Last but not least, it is introducing other ways of learning enabled by technology».