Lexplore builds an assessment and intervention product that combines eye-tracking with artificial intelligence to evaluate and develop literacy skills in children. The company has customers in seven countries, including Sweden, the U.K., and the U.S., and says it has helped over 100,000 students. Educators using the tool report significant progress and improved efficiency and accuracy for teachers, school administrators, and parents. Lexplore plans to use new capital to accelerate growth through sales and marketing hires. Management is targeting expansion into Western Europe, the U.S., and Oceania as part of its next growth phase. CEO Martin Sjöstrand emphasized that partnering with Sparkmind will help the company scale its mission to support struggling readers. Optolexia offers a screening test designed to identify children at risk of dyslexia in the first years of primary school. Its method aims to enable confident decisions on whether a child needs supplementary support or further investigation. The approach is intended to optimize use of school resources to benefit students, staff and the wider community. The company is conducting pilots and was preparing to release its service in the UK and the US in 2017. Optolexia raised $5.6M (approx. €5.2M) in funding to support its expansion plans. The company was founded in 2015 and is led by CEO Fredrik Wetterhal, operating from Stockholm, Sweden.

Total raised

$12M

Funding rounds

2

Latest round

Equity

Latest activity

Apr 2021