Sramana Mitra: Talk about financing. Before the pivot, you raised $3 million. What happens after the pivot? Felix Ohswald: We raised $600 million in all. Sramana Mitra: What was the next round immediately after the pivot? Felix Ohswald: We pivoted in 2019. We had 12 months where we tested out a couple of things. At
Sramana Mitra: You said you talk to parents to map out a journey. Can you double-click down on that a bit? How much tutoring does a family require? Felix Ohswald: On average, a family consumes eight sessions per month. That’s two sessions per week. One session is about 50 minutes in our case. On average,
Sramana Mitra: What about Indian companies? There are a whole bunch of players that are doing really well like CueMath. Felix Ohswald: Two markets that have always been quite advanced when it comes to education businesses are India and China. China had some regulation changes last year that made it difficult for these businesses to
Sramana Mitra: For those three years, you ran this site of letting students ask questions and answering those questions? Felix Ohswald: Yes. Sramana Mitra: Was there financing involved? Felix Ohswald: Yes, we raised about €3 million. Sramana Mitra: From whom?
This is a terrific story of a European EdTech venture that has raised $600 million and is scaling extremely well after three years of not finding a monetization model. Sramana Mitra: Let’s start at the beginning of your journey. Where are you from? Where were you born, raised, and in what kind of background?