EdTechReview.in welcomes the news of Letrus, a Brazilian educational technology startup, closing a $7.3 million funding round. Led by Crescera Capital, a Brazilian fund with a track record of investing in prominent educational projects such as Anima and Alura/FIAP, the investment also saw participation from Owl Ventures, a US-based firm specialising in the educational sector.
Letrus, founded in Sao Paulo, has developed a revolutionary artificial intelligence-powered platform to help teachers and students enhance reading and writing skills in both public and private schools. Integrated into classrooms and linked to pedagogical activities, the platform provides students with instant feedback, recommendations, and suggestions as they complete their exercises. This helps teachers gain an understanding of their students’ progress, as well as the overall evolution of the classes.
The UNESCO-awarded Letrus platform uses artificial intelligence to assess, correct, and suggest improvements to students’ texts, revolutionizing the way teaching and learning is approached in classrooms. The startup now serves 680 schools, with 80% of its revenue coming from private networks and 20% from public networks. Last year, it even signed a contract with the government of Espirito Santo, demonstrating the success of its platform.
This funding will be used to invest in marketing and product development, with the aim of extending the platform to 1 million students in the next two years. Along with the high-profile investors involved, the process also attracted entities such as Altitude Ventures from Pennsula, Abilio Diniz’s family office; education-focused foundations such as Lemann and VélezReyez+; BID Labs, the Inter-American Development Bank’s innovation arm; and angel investors.
Letrus is now looking to consolidate its presence and expand significantly in 2024. It is currently negotiating with several private educational groups and at least three state governments, predicting exponential growth and a major impact in Brazil’s educational sector and beyond. Teachers across the globe are eagerly anticipating the developments in the EdTech space that this investment brings.
