Buddy AI tutoring robot has raised $11 million in funding
Buddy AI, a virtual English language tutor designed for children, has secured $11 million in funding. The round was led by BITKRAFT Ventures and Educapital, with additional support from investors like One Way Ventures, Leta Capital, and Point72. Although the company’s valuation remains undisclosed, the new investment will be directed toward product development.
The app provides interactive lessons in letters, numbers, shapes, colors, and more, using voice recognition and other advanced technologies. Founded in the U.S. seven years ago by two Russian entrepreneurs, Buddy AI initially attracted $500,000 in seed funding from Cubic AI. Between 2020 and 2022, the startup raised an additional $4.5 million and merged with another education-focused startup, Edwin.
Currently, Buddy AI is available in markets across Brazil, France, the MENA region, and more. By the end of 2023, the app had been downloaded over 22 million times globally, and total downloads have surpassed 50 million this year. Serving over 20 million children annually, Buddy AI has seen a 93% increase in revenue, with nearly half of its users based in Latin America.