SoloLearn mobile learning platform raises $100,000 from Granatus Ventures

YEREVAN, October 3. /ARKA/. The first Armenia venture fund, Granatus Ventures, will provide $100,000 and acceleration support to SoloLearn Armenian-American mobile learning platform.

The press office of Armenia’s Enterprise Incubator Foundation (EIF) told ARKA the respective agreement was signed at the seventh ArmTech 2014 in New York.

The co-founder of the company David Kocharyan said the funding is raised to improve the platform and attract new users.

“SoloLearn wants to make the educational process more accessible and convenient”, Kocharyan said.

 

Managing partner of Granatus Ventures Manuk Yerghnyan, in his turn, said SoloLearn is a helpful creativity tool for changing traditional approaches toward education.

Armenian-American SoloLearn was founded in June 2013 as a mobile education platform offering today some 14 interactive and game apps on software development, business and photography.

  

The first Armenian venture capital firm, “Granatus Ventures”, was registered in July 2013 initiated by Armenian Singaporean businessman Pierre Hennes. The firm partnered with Manuk Yerghnyan, the head of “Economy and Values” research center in Yerevan, and with a venture businessman and ex-director of Soros Fund Management in London Yervand Sargsyan.

“Granatus Ventures” is expected to make investments in IT startups on a shared basis (not more than 50%) and then to buy its share back as the business develops. The government said it will acquire 9,000 shares of Granatus Ventures Foundation worth a total of $3.3 million. Private investments in the capital will amount to $3 million. –0--