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StudySmarter, a Munich-based digital learning platform, has raised $15 million in a Series A round led by Owl Ventures, with support from Left Lane Capital and other investors, including Lars Fjelsoe-Nielsen and existing investor Dieter von Holtzbrinck Ventures (DvH Ventures).
Founded in 2018, the startup uses natural language processing (NLP) to turn content into interactive personalized courses and track learners' progress. It helps learners, professionals, and content publishers create their content, such as lecture notes, summaries, flashcards, exercises, and much more.
According to its website, StudySmarter has over 10 million summaries, 40 million index cards. More than 800 universities and 26,000 schools use its platform.
The proceeds will be used for product development and recruitment, and market expansion.