Funding

Voovo funding news – Budapest-based Voovo Secures €500k in Pre-Seed Funding

Oct 3, 2024 | By Team SR

Voovo funding news - Budapest-based Voovo Secures €500k in Pre-Seed Funding

The AI-powered flashcard app Voovo has secured €500k in pre-seed funding. The round was led by global startup accelerator Techstars, with support from strategic investors STRT Ventures, Peter Csillag, and Obuda Uni Venture Capital as the largest investor.

SUMMARY

  • The AI-powered flashcard app has secured €500k in pre-seed funding.
  • Voovo facilitates the seamless integration of the three best learning strategies—active recall, spaced repetition, and micro-learning—into regular classroom instruction for both students and educational institutions.

Voovo, founded with the mission to integrate microlearning into mainstream education, offers an adaptive and personalized learning experience through digital flashcards. These flashcards leverage spaced repetition and active recall—two scientifically proven techniques for enhancing memory retention and learning speed.

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With new funding secured, the app is set to enhance interactive learning experiences for students. By reinforcing knowledge and efficiency, Voovo is on a mission to expand its user base and solidify partnerships with educational institutions. This investment not only showcases it's growth potential but also reflects investor confidence in the team and strategy.

Martin Olczyk, Managing Director at Techstars, emphasized: “I decided to invest in Voovo because of the team’s remarkable ambition, coachability, and their mastery of execution. Benedek and his team are building something truly groundbreaking, solving a significant challenge in the edtech space by helping students learn faster. The combination of their data-driven approach and their proven ability to deliver at the highest level gives me great confidence in Voovo’s future success, and I’m very happy to be part of Voovo‘s journey.”

Imre Hild, CEO of Óbuda Univenture Capital, shared: "The participation of Óbuda University’s Venture Capital Fund underscores the value Voovo’s platform brings to the academic community. I’ve worked with over a thousand startups since 2009, and I’ve learned that success is all about the people. The Voovo team, led by Benedek Herman, stands out for their deep understanding of the problem, commitment to building a valuable product, and dedication to making a positive impact on their community. I’m excited to support them as they continue to grow.”

The recent investment will fuel Voovo's growth, allowing the company to enhance its platform with user feedback, strengthen integrations with school curriculums, and expand its reach in classrooms across Hungary and Europe.

Voovo’s CEO, Benedek Herman, commented on the significance of this milestone: “We believe that the most effective learning methods—active recall and spaced repetition—should be accessible to all students, not just top performers. Our vision has always been to democratize these methodologies, making them available to every learner, especially those who need the most support. With the help of this funding round, we can expand our solution on a larger scale and continue advancing towards our vision.”

The pre-seed money will be used to expedite Voovo's user acquisition strategy, with a particular emphasis on important educational markets in Central and Eastern Europe, in addition to enhancing product development. In order to give educators and schools even more value, the company also intends to increase the scope of its analytics and reporting capabilities.

With this solid support, Voovo will be in a good position to grow and improve its platform, enabling more students to take advantage of individualized learning opportunities and attain their academic potential. The company is still committed to growing its operations and improving its influence in schools across the globe, even as it gets ready for a bigger fundraising round early next year.

About Voovo

Voovo facilitates the seamless integration of the three best learning strategies—active recall, spaced repetition, and micro-learning—into regular classroom instruction for both students and educational institutions. Quality quizzes and flashcards can be created by educators and learners using information from textbooks, notes, photos, and infographics.

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