Nordic EdTech News #75: 2022-10-17

Your Weeks 40 - 41 update from the Nordic and Baltic EdTech ecosystem

Hello and welcome to this week’s Nordic EdTech News featuring acquisitions, commercial partnerships, growth and investment updates from across our ecosystem!

The news that KIRKBI A/S, the Denmark-based holding and investment company of the LEGO brand, had acquired BrainPOP, the US EdTech company, has been widely discussed / shared across the industry (Link). The deal is worth $875 million and is based upon the LEGO brand’s vision of “becoming a global force for learning through play, be it physically or digitally.”

The deal’s announcement also suggests that further investment in high-growth companies “within digital play and digital learning” are likely. Particularly those “that complement the existing LEGO branded entities.”

In other acquisition news, Studeo, a leading Finnish EdTech, has sold majority ownership to the Klett Group, a global education publisher (Link). CEO Jukka Meklin hopes that the move will enable Studeo to become an “international success story" whilst David Klett believes that the deal offers them “a wonderful opportunity to learn about the world's most inspiring education system." Studeo’s turnover is currently more than €5 million - the terms of the deal were not disclosed.

After a quiet period, it’s encouraging to report on two notable investments in Nordic EdTech businesses. Ludenso (Norway) has raised NOK 10 million in a financing round led by Ferd, the family-owned investment company of billionaire Johan H. Andresen (Link). The new capital will be used to accelerate their expansion in Europe and the UK and to support their development of an AR universe for education. In Sweden, Meitner, an administration and learning platform for schools, have announced a SEK 15.8 million round from new and existing investors (Link). This funding will take the business “to a new level” following initial customer adoption and feedback.

Whilst on EdTech investment, do check out the latest paper from Dealroom and Brighteye Ventures: “The evolution of Edtech: activity in private and public markets.” The document argues that EdTech remains a significant, underinvested opportunity, despite the ongoing recent slowdown. Brighteye’s new report on the Edtech Content Landscape includes many Nordic EdTechs and is also well worth a read.

Following the issues identified in NEN #74 relating to student privacy, IKT-Norge is warning that the 2023 State Budget proposals from the Norwegian government could damage the local EdTech industry (Link). The trade association argues that cuts to specific municipality budgets for digital teaching aids will reduce students’ equal access to quality materials and could see teachers using free content instead (Link).

Congratulations to GraphoGame who were named as one of Helsinki’s hottest startups in Wired’s 2022 review of Europe’s leading new businesses (Link). And congrats also to all the Nordic EdTechs shortlisted at the 2022 GESS Awards (too many to mention them all individually here).

If you want to learn more about EdTech innovation in the new Nordics then this seminar and mini-expo, organised by the Danish, Estonian and Finnish Embassies in Stockholm, is for you. The event will discuss the role of digitalisation in education and consider how to make best use of new technology in schools. Thursday 17 November from 15:00 - 17:30. Please register here.

That week will also see two EdTech events taking place in Helsinki around Slush. The Helsinki Education Hub is running InvestED for the first time on 17th November and XcitED will again take place on 18th November.

Thanks to EdTechX for featuring my piece on the power of differentiation for EdTech businesses. As I argue, a unique position can help increase a company's ability to raise investment as well as supporting long-term business viability. Evidence also suggests that it has a positive impact on brand value, pricing and profitability.

This is one of the areas in which I support EdTech businesses through my advisory and consultancy services. If you’d like to find out how I could help your business stand out in a sea of sameness, please contact me via email.

Thanks for reading, Jonathan

News from Denmark

• Major digital sites (e.g Aula, Clio and Matematikfessor) have all received unpleasant, negative reviews on Trustpilot as part of a TikTok trend. (Link)

• In order to reduce costs, Vejen Municipality has announced plans to replace three hours of teaching a week for grades 7 to 10 with online resources and self-study. (Link)

• LearningBank continues to grow in Germany, signing Trade Republic as a new client. (Link)

• Anders Peter Nielsen of Nordic Schools highlights how technology and digital teaching resources are all part of good teaching. (Link)

• Shape Robotics announces that Q3 2022 revenues will be MDKK 20.6 vs. MDKK 0.8 in Q3 2021 (Link) and confirms another sizable Steam Labs deal. (Link)

• Great interview with Wizkids founder, Jonas Henrik Lund, who reports that “sales to international major players have accelerated” since their sale to Texthelp last year. (Link - $$)

News from Estonia

• Good to see EdTech so well represented in a round up of Top Women From VC and Startup Ecosystem In Estonia. (Link)

• Alpa Kids were featured by Google in their #WeArePlay series. (Link)

• Futuclass co-founder, Märt Lume, won the "Friend of Education" award at the Estonian Teachers of the Year Gala. (Link)

• Kadri Haljas, CEO of Triumf Health, was named Young Entrepreneur of the Year by Smart City Tartu and Estonian Chamber of Commerce and Industry. (Link)

News from Finland

• Annie Advisor won the pitch competition at the recent EduTech Europe event in Amsterdam. (Link)

• See how Claned took their online learning solution to Africa. (Link)

• Code School Finland will prepare Panamanian teachers with tools and skills for digital skills education in K-9. (Link)

• Kide expands into physical education via a new partnership with Kids Collab. (Link)

• Mightifier have launched a new range of flashcards to provide more support for daily social-emotional learning at schools. (Link)

• Playvation and Learning Scoop have joined forces to create a brand-new course on early language teaching. (Link)

News from Iceland

• Kara Connect will establish a new base in Ireland as part of plans to expand across Ireland, Britain and mainland Europe. (Link)

News from Latvia

• €30.6 million will be invested by the Latvian government to update school networks and modernise primary schools. (Link)

• How EdTech solutions are helping schools to address mobing or bullying. (Link)

News from Lithuania

• Researchers from Kaunas University of Technology suggest that Lithuania could become one of the European leaders in EdTech as long as the country continues to build its national EdTech ecosystem. (Link)

• If you missed the recent Teso Talk on Accelerating change. How can technology make education better? there’s a recording in English here.

News from Norway

• Atea’s Head of Education in Norway argues that many municipalities are not making the most of the opportunities offered by digital technology. (Link)

• Capeesh launches new Norwegian language content, responding to demand from Ukrainian immigrants. (Link)

• Kahoot! confirm integration Google Meet’s new live sharing feature (Link) and a new content partnership with Da Vinci. (Link)

News from Sweden

• Lots to unpack in the annual report on Swedes and the internet in 2022. Clear benefits identified for children using the internet for learning but it’s concerning that less than 3 in 10 parents think that school platforms are user-friendly.

• The author, Andreas Ekström, has suggested that Google should pay for its place in Swedish schools. (Link)

• Sana launched in London and New York (Link) and unveiled Assistant, their “most ground-breaking AI feature to date.” (Link)

• Swedish Edtech Industry will be a new partner for SETT, Sweden's largest EdTech event. (Link)

• Looking forward to “How do we know it works?” - an online webinar from Swedish Edtest on EdTech effectiveness / impact (15th Nov). (Link)

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