20 March, 2017
Lexplore raises $5,6M in funding to take eye-tracking software for dyslexia to the US
NOME (Nordic Mentor Network for Entrepreneurship) participant Lexplore (Previously Optolexia) uses artificial intelligence to screen for dyslexia in school children. The startup has raised $5,6M to take their innovative technology to the US.
The Swedish Edtech startup makes it possible to identify children with reading and writing difficulties early on, so schools can intervene at an early stage. This ensures that those children affected don’t fall behind at school, and schools save time and resources.
The startup has raised an investment round of $5,6M that is led by Gabriel Urwitz, CEO of private equity group Segulah. The Pomona Group also contributed to the round, and the funding will be used to launch Optolexia’s service in the United States.
Early efforts to prevent dyslexia in schools pays off
“The US market is very big and the awareness about dyslexia is increasing. Many have realized that its possible both to help students and to save money by introducing early efforts to prevent reading and writing difficulties, and we are experiencing a great interest in our service, says Frederik Wetterhall, CEO of Lexplore to the Swedish news media, Digital.
Lexplore joined NOME in 2016 for their huge market potential that works by recording eye movement through an eye tracker and thereafter sending the data to the cloud where the dyslexic reading patterns are analyzed and identified. Lexplore has built their dyslexia tool using Microsoft Azure machine learning and artificial intelligence.
You can get more information about the Lexplore technology in this video:
Read more about the investment in mobilehealthnews here http://www.mobihealthnews.com/content/swedish-startup-optolexia-raises-56m-take-eye-tracking-software-dyslexia-screening-us
Read more about the investment in Digital here (in Swedish) http://digital.di.se/artikel/nya-miljoner-ska-ta-deras-dyslexi-startup-till-usa