Swedish EdTech firm Lexplore raises €5 million, eyes Western Europe, U.S. and Oceania expansion

Stockholm-based edtech Lexplore has raised €5 million in a round led by education sector champion Sparkmind.vc.

The funding is slated to be used to accelerate Lexplore’s growth, with a particular focus on sales and marketing hires that can turn their sights on Western Europe, the U.S., and Oceania.

“We were impressed by their solutions’ ability to improve the learning results of readers of all ages while having an impact on the efficiency and accuracy of teachers, school administrators, and parents,” comments Sparkmind.vc’s Marko Kyyrönen.

Lexplore, which uses a unique eye-tracking and AI technology combination to access and develop children’s literacy skills, has customers in 7 countries including Sweden, the U.K., and the U.S., and has helped over 100,000 students. According to Lexplore, educators report significant progress and results after introducing the tool.

“The skill and dedication of the Lexplore team have got us to where we are today, and we are proud of what we have achieved to date,” adds Lexplore CEO Martin Sjöstrand.” Joining forces with Sparkmind will allow us to take the next step on our journey to leave no struggling readers behind. We’re excited about what we will achieve together”