Praktika, a London, UK-based provider of a language learning app that uses personalised AI-powered avatars, recently announced a successful Series A funding round, raising an impressive $32.5M. The round was led by Blossom Capital, following a previously undisclosed $2.5M Seed round led by Creator Ventures and Blue Wire Capital. Notable investors in the rounds included Carles Reina (ElevenLabs) and Patrice Evra (five-time Premier League champion). The company plans to utilize the funds to enhance the app experience, refine avatar accuracy, introduce new languages such as Spanish, French, and German, and establish new development hubs in Eastern Europe and the UAE.
At the helm of Praktika are founders Adam Turaev (CEO), Anton Marin (CTO), and Ilya Chernyakov (CPO), who have created a language learning platform that offers a unique automated tutorship experience powered by generative AI avatars.
Students interact with realistic AI avatars that customize lessons based on their individual needs and learning preferences, resulting in a highly immersive language-learning journey. Avatars are programmed to adjust lessons according to the learner's aptitude and preferred learning style, even mimicking various accents like American, British, Asian, and Indian. The more users engage with their avatars, the more personalized and effective the lessons become, ultimately driving improved outcomes.
With over one million active users globally and nearly $20M in annualized revenue, Praktika has already made a significant mark in the language learning industry. The company's success can be attributed to its innovative approach to language education, offering learners a dynamic and tailored learning experience. By expanding their offerings to include additional languages and enhancing avatar capabilities, Praktika is poised for continued growth and success in the competitive edtech market.
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