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Angels give Swedish app maker new muscles
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App developer Brainglass has new financial muscles, after receiving investment from international angels. The Stockholm-based startup announced the investment at the Mobile World Congress in Barcelona, and also revealed that it plans to launch a series of “karaoke-style” education apps.
The development of the global app market shows a rising trend in education, and Niss Jonas Carlsson, Brainglass’ CEO and founder, aims to take the global lead in the sector.
The first of four new apps, called “karaoke4english”, will be launched in April. It’s described as a karaoke-style audiobook reader where users listen to the audio while the visual text is marked up in the same pace as the reading.
Books will range from classics by authors like Mark Twain and Oscar Wilde, to the Bible and the Koran.
In Barcelona, Jonas Carlsson announced the new partnership with two major international angel investors and the completion of 16.85 million kronor ($2.6 million) of initial funding.
What effect will the investment have on your business?
“This improves our ability to reach a wider consumer market. Our concept and technology are at the forefront and we now have muscle to launch a series of applications that will allow mobile users worldwide an unprecedented opportunity to improve their language skills”, Jonas Carlsson said.
What trends support your business idea?
“The most important trend is the explosion of the app economy. But more important for us is the relative faster growth trend of the education and reference category within the greater app economy”, he said.
The company was originally set up in Gothenburg but moved to the Stockholm suburb of Kista, known for its telecommunication and information technology industry network, in 2002.
Brainglass investors: Lead investor Marc Beuls, emerging market specialist (former CEO Millicom International Cellular), Markus Berger-De León, CEO of MyHammer AG (formerly CEO Jamba/Jamster and StudyVZ), ALMI Invest Stockholm AB and Sting Capital AB.
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