• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to secondary sidebar
  • Skip to footer

3v.org

Venture Capital Matters

  • Sponsored Post
    • Make a Contribution
  • Market Reports
  • Technologies
    • Technology Events
    • Startup Jobs
  • Domain Names for Startups
  • About
    • How to raise venture capital
    • How to raise seed funding from angel investors
    • How private equity and venture capital firms operate
    • What is the difference between private equity and VC funding?
    • What technology trends are considered hot among VC firms?
    • What is elevator pitch?
    • What is startup burn rate?
    • Does failure to launch a startup spell the end of the entrepreneur’s ambitions?
    • How to avoid pitfalls in founding a startup
    • Why do startups fail?
    • What are the traits of successful startup founder?
    • What are startup vanity metrics?
    • Why investing in the next generation of women and diverse entrepreneurs is a crucial part to the success of the tech infrastructure
    • Where are VCs seeing opportunity
    • How do startup valuations work?
    • What is startup accelerator?
    • How to scale an early-stage startup team, how much to pay and how to distribute equity
    • Don’t mix business with friendship: when it comes to building a founding team for a startup, this adage may not always apply
    • What is a social unicorn?
    • Secure Your Startup’s Future: The Importance of Succession Planning
  • Contact

EdTech Startup MyBuddy.ai Raised a Seed Round From LETA Capital to Provide Children With Affordable English as a Foreign Language Tutoring at Home

April 7, 2020 By admin Leave a Comment

MyBuddy.ai, a virtual spoken English tutor for children, raised a $1 million seed investment from LETA Capital to meet sharp growth in demand for online education.

Venture capital firm LETA Capital invested $1 million in MyBuddy.ai, a San Francisco-based EdTech startup that has developed an innovative app whose AI-voice virtual tutor is teaching spoken English to children around the world.

MyBuddy.ai introduces a new way of how the generation of “digital natives” learns spoken English by offering them a virtual tutor in the form of a cartoon character — Buddy, the robot — powered by voice AI. By engaging the little users in dialogue and voice-based games, the cute teacher provides them with unlimited speaking practice and brings the efficiency of education to the next level. Buddy is solving one of the biggest problems in English as foreign language education — the acute deficit of qualified English teachers.

Over 500 million children around the globe are trying to learn English, but can’t reach fluency because they lack actual practice speaking the language. Buddy is serving a global audience of English learners, including immigrant children in the US, as well as English-learning kids in Europe, Asia, and Latin America. The app’s user base grew tenfold over the last 12 months and has exceeded 20,000 paying students. Since its launch in March 2018, the app has been downloaded more than one million times and is regularly in TOP of the App Store and Google Plus in its Eastern European markets. The company also won the award for most innovative product in the world at the GESAwards 2019 (Global EdTech Startups Awards).

The timing of the company’s seed investment round is noteworthy. There is a growing demand for online education all over the world, and the current pandemic has further fueled this trend. With kids staying at home, both parents and teachers are now relying even more on online technologies.

MyBuddy.ai will use the investment for further development of the product and to launch it in new regions. Buddy’s next addition will be a free mini-course about health that teaches kids spoken English while at the same time providing essential knowledge about how to stay healthy and prevent diseases.

“I’ve heard many times from educators and experts that it’s impossible to create a completely virtual teacher. But we prefer to invest in companies that are making the impossible possible and disrupting the global education industry by offering innovative approaches that appeal to the young digital generation. We were also impressed by the fact that MyBuddy.ai is one of the very few companies that managed to build a sustainable B2C-business around virtual voice assistant technology powered by AI/ML“ — commented Alex Chachava, the managing partner of the LETA Capital.

“The demand for online education is rising sharply due to the pandemic. This has exacerbated the chronic shortage of qualified English language teachers needed for half a billion kids struggling to learn English as a second language. Our AI-powered tutor Buddy can handle the mundane part of their work. He provides unlimited practice of spoken English, can scale to millions of students, and is always available. Just as chatbots, robotics process automation, and robo-advisors are changing other industries, AI technologies are transforming the educational industry, allowing teachers to focus on more creative and exciting tasks,”— says Ivan Crewkov, MyBuddy.ai co-founder and CEO.

Download the app here (iOS / Android) and check out Buddy the robot in action with a 1-minute demo video.

About LETA Capital

Venture capital firm LETA Capital (https://leta.vc) invests in breakthrough technologies using a data-driven approach to select the best startups. Focusing on the most promising markets, LETA Capital invests in B2B and B2C software developers. Priority sectors for the current active fund are corporate SaaS, machine learning and artificial intelligence technologies, robotics, and VR/AR. The current portfolio includes more than 20 companies.

The ideal investment targets for the LETA Capital ll Fund are companies created by Russian-speaking entrepreneurs that operate in global markets. These companies are innovative IT businesses that use the latest technologies to change traditional approaches in legacy industries at the late Seed, Series A, and early growth stages.

About MyBuddy.ai
MyBuddy.ai (https://mybuddy.ai) is the developer of a voice-based AI English tutor for kids. The mobile app created by the company helps children practice their spoken English by conversing with a virtual AI-powered cartoon character — Buddy the robot. With its engaging virtual character, speech technology, and adaptive learning, Buddy is making speaking practice affordable for 500 million children around the globe by automating the mundane 80% of tutoring work at 2% of the cost. This enables teachers and parents to give kids unlimited speaking practice, essential for mastering English. In January 2020, MyBuddy.ai merged with the EdTech startup Edwin. Based in San Francisco, the company is backed by venture capital and has a global audience of over 20 thousand paying students.

Filed Under: PR Tagged With: EdTech, virtual teacher

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

Market Analysis

China’s Poaching of Water Technologies from the West: A Serious Concern
Market Scenario of China Banning Exports of Rare Earth Materials and Electric Batteries
Navigating Markets through a 4-Dimensional Research Data Model
A Markov Chain-Based Approach for Forecasting Emerging Technologies: An Extended Analysis
Identifying Resilient Stocks Poised for a Strong Comeback Amidst Economic Recovery
China’s Debt Problem: A Looming Crisis
The Future of Travel: A $15.5 Trillion Industry

Market Research Media

The Evolution of RSS Feeds: A Media Analyst’s Perspective
AI-Enhanced 4-Dimensional Market Dynamics Analysis: Unveiling Trends, Segmentation, Behavior, and Evolution through Markov Chain Modeling
Autotutoring Market: Personalized Learning and Technological Innovation at the Forefront
Integration of Generative AI and Large Language Models for Enterprises
The Decline of Chinese Media Under Authoritarian Rule: Economic Implications
Algorithmic Bias in Media Recommendation Systems: Unveiling Challenges and Pursuing Fairness
U.S. Federal IT Market Forecast

Secondary Sidebar

Technologies

Bridging the Semiconductor Workforce Gap: Intel’s Innovative Educational Initiatives
German Government and Bavaria Invest €300M in ams OSRAM Semiconductor Tech
Innovative Ship Concept: Providing Zero-Carbon Nuclear Energy for Defense and Disaster Relief
Linux Foundation Launches OpenTofu: A New Open Source Alternative to Terraform
Introducing the NETGEAR Nighthawk Tri-Band Mesh WiFi 6E System: Exceptional Range and Performance for the Modern Home

Tech Events

Imagine 2023, Edge AI Conference, September 27, 2023, Computer History Museum, Mountain View, California
Microsoft Ignite, November 14-17, 2023, Seattle
Intel® Innovation 2023, September 19-20 2023, San Jose McEnery Convention Center, San Jose, California
Dreamforce 2023, September 12–14, 2023, Moscone Center, San Francisco
AI Hardware & Edge AI Summit, September 12-14, 2023, Santa Clara Marriott, Santa Clara, California

Footer

Recent Posts

  • Techstars and The Ohio State University Partner to Boost Software Startups in Columbus
  • Atlys Secures $12M to Revolutionize Visa Processing and Travel Experience
  • Afterparty Raises $5 Million Funding to Revolutionize Creator-Fan Interactions with Afterparty AI
  • Elevator Pitch: BornIntoLuxury.com (Born Into Luxury)
  • JETRO’s Global Startup Acceleration Program: Fueling Japanese Startups’ Global Expansion
  • Join the Innovation Wave at SPIE Startup Challenge 2024!
  • CertifID Secures $20M in Series B Funding to Combat Rising Wire Fraud in Real Estate
  • floLIVE Secures $47M Series C Funding to Expand Hyperlocal Global Cellular Network and IoT Solutions
  • Lyten, Inc Secures $200 Million in Series B Funding to Advance Revolutionary 3D Graphene Supermaterials
  • NordicNinja Launches €200 Million Fund II to Drive Sustainable Innovation in Europe

Dossier

EspressoCortado.com: The Artistry of Latte
KeywordResearch.org: The Bedrock of SEO
TravelMktg.com – Experiential Travel Marketing & Storytelling
bookselling.net
Unweb.org, your ultimate privacy guardian

Press Media Release

Editorial: The Yom Kippur War and its lessons for today
Navigating the New Media Landscape: From Print to Pixels
Analysis 2023
TravelMktg.com and Government Organizations Unite for Tourism Promotion
Deloitte: Travel Leaders Embrace Automation and Tech as Workforce Challenges Continue to Weigh on Industry

App Coding

Building a simple SMS (Short Message Service) application using SQLite and jQuery
Rust for Mobile Apps
Comparison of Design Principles: Mobile Apps vs. Desktop Software
Viral App Ideas to Code for Massive User Engagement
Common Pitfalls in Agile Development and How to Avoid Them

API Coding

API Coding Opportunities in Headless Web Publishing
AI-Enhanced API Gateway
Building Powerful APIs for Gaming
Building an API Server to Harness the Power of Large Language Models
Quantitative Analysis Criteria for Assessing API Performance and Quality

Copyright © 2022 3v.org

Technologies, Market Analysis & Market Research and Exclusive Domains

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Do not sell my personal information.
Cookie SettingsAccept
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT