Funding

Praktika funding news – Language Learning App Praktika Raises $35.5Million in Series A Round Funding

May 22, 2024 | By Startup Rise EU

Praktika, a language learning application, has raised $35.5 million in a series A of funding. Blossom Capital led a round of financing. Praktika employs avatars and artificial intelligence to establish a "private tutor" experience.

Praktika, a language learning application, has raised $35.5 million in a series A of funding. Blossom Capital led a round of financing. Praktika employs avatars and artificial intelligence to establish a "private tutor" experience.

SUMMARY

  • Pratika, a language learning application, has raised $35.5 million in a series of funding.
  • Blossom Capital led a round of financing.

It has achieved a 4.8-star rating on app stores and has grown significantly to nearly $20 million in annualised revenues in the past 12 months, with 1.2 million active monthly users in 100 countries.

Read also - Silana funding news -Robotics Startup Silana Secures €1.5 Million in Funding

The funding will be utilised to enhance the app experience, enhance avatar accuracy, introduce new languages, such as Spanish, French, and German, and establish new development centres in the UAE and Eastern Europe. This will allow it to challenge the current world leaders.

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Adam Turaev, CEO and co-founder of Praktika, said: “No-one should be held back by their struggles to master a language or culture. Praktika replicates a human tutor's responsive interaction and psychological support using authentic voices and avatars. It’s a fun, affordable way to learn languages with bespoke tuition and customers love it. This funding fuels our mission to become the world's leading language-learning app."

Patrice Evra, angel investor and legendary footballer, said: "As a footballer who's played all over the world, I know the importance of learning languages. Praktika has massive potential, particularly since it is culturally nuanced, and I'm excited to see them empower even more people to learn languages globally."

About Praktika

Praktika is an immersive language learning application that features generative AI avatars. Participate in interactive and enjoyable language learning with AI avatars that are powered by LLM. Providing the next billion learners with the ability to surmount language barriers and capitalise on new opportunities.

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