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(qlmbusinessnews.com via news.sky.com– Wed, 8th June 2022) London, Uk – –
Existing investors including Stonehage Fleming and Nesta Impact Investments are injecting further money into the digital educational resources company, Sky News understands.
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A British education technology start-up which works with universities to provide digital access to textbooks and research materials has defied the gloomy sentiment engulfing the fundraising environment by securing a $15m (£12m) capital injection.
Sky News understands that Bibliu, which counts Oxford University and Imperial College London among its customers, will announce this week that it has raised the money from new and existing investors.
The funding will be used to help Bibliu expand in the US, including through partnerships with publishers and new product development, it said.
Bibliu argues that by reducing inequalities caused by the often-high cost of educational resources, it helps colleges and universities to promote diversity, equity and inclusion.
Existing backers including Nesta Impact Investments, Oxford Science Enterprises, Guinness Ventures and Stonehage Fleming are among the participants in the round.
Richard Hill, head of direct investments at Stonehage Fleming, the international family office, is joining Bibliu's board as part of the Series B fundraising.
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“This funding will enable Bibliu to develop additional technology that further automates content management for publishers, streamline the complexities for institutions associated with managing learning content, and – most of all – support our clients' goals to advance student success in an equitable manner,” Dave Sherwood, the company's co-founder and chief executive, said.
By Mark Kleinman
